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Rebecca - Product Champion
Level 3

Matching a Bank transaction to a GST Payment

I need to match a bank transaction to the BAS I have lodged.

 

Solved
Best answer September 09, 2020

Best Answers
Rebecca - Product Champion
Level 3

Matching a Bank transaction to a GST Payment

QuickBooks is designed to record GST Paytments via the ATO Clearing Account.
When you record a BAS Payment in the GST centre it will record a decrease in the ATO Clearing Account.
Then when you record a match in the Bank Feed it will add a credit and zero the Clearing Account.

The first step is ensuring the BAS Payment is already recorded:

1. Select GST in the left hand menu.
2. Select Record Payment on the activity statement you want to record a payment against.
3. Enter the Amount.
4. Select the Account the payment was withdrawn from and the Date of the payment.
5. Enter a Memo for the transaction if required.
6. Select Save


Note: You can only record a payment for a summary that has been lodged.

To then allocate the bank transaction:
1. Navigate to Banking
2. Select the same payment Account as above
3. The Bank Feed should automatically recognise the match if the date and amount are correct. Select Match
4. If, for any reason, you do not see the Match automatically, select Find Match and tick the transaction from there.


Note: If a Summary has previously been lodged and unlodged, please ensure the initial payment is deleted as this can cause the bank feed to not recognise a match.
To delete this navigate to GST > Payments.

If you are not using the GST centre to lodge BAS please use the steps outlined in this article to record the Payment.

View solution in original post

1 Comment 1
Rebecca - Product Champion
Level 3

Matching a Bank transaction to a GST Payment

QuickBooks is designed to record GST Paytments via the ATO Clearing Account.
When you record a BAS Payment in the GST centre it will record a decrease in the ATO Clearing Account.
Then when you record a match in the Bank Feed it will add a credit and zero the Clearing Account.

The first step is ensuring the BAS Payment is already recorded:

1. Select GST in the left hand menu.
2. Select Record Payment on the activity statement you want to record a payment against.
3. Enter the Amount.
4. Select the Account the payment was withdrawn from and the Date of the payment.
5. Enter a Memo for the transaction if required.
6. Select Save


Note: You can only record a payment for a summary that has been lodged.

To then allocate the bank transaction:
1. Navigate to Banking
2. Select the same payment Account as above
3. The Bank Feed should automatically recognise the match if the date and amount are correct. Select Match
4. If, for any reason, you do not see the Match automatically, select Find Match and tick the transaction from there.


Note: If a Summary has previously been lodged and unlodged, please ensure the initial payment is deleted as this can cause the bank feed to not recognise a match.
To delete this navigate to GST > Payments.

If you are not using the GST centre to lodge BAS please use the steps outlined in this article to record the Payment.

View solution in original post