Hey there! Did you know that businesses in Australia have to report and pay taxes like GST and PAYG? They do it through something called BAS (Business Activity Statement) payments to the ATO. Basically, the amount you pay is based on what you report in the BAS.
To record a GST Payment (BAS Payment) in the GST centre:
- Go to GST, then navigate to the To Do tab.
- Select Record Payment on the activity statement you want to record a payment against.
- Enter the Amount paid.
- Select the Account the payment was withdrawn from and the Date of the payment.
- Enter a Memo for the transaction if required.
- Select Save.
Note: You can only record a payment for a previously lodged activity statement.