Cash-based GST in general ledger system

See also Preparing a non-payments based GST Return.

CashManager Plus with the general ledger feature activated is able to prepare a cash-based GST Return or BAS as long as there are no subsequent transactions entered that have been applied to invoices in the GST period being reported. It does this by preparing the return as a normal accrual based return, but then deducting the closing debtors and creditors, and adding the opening debtors and creditors, from/to the appropriate areas.

When you select the GST Return / BAS Worksheet option, there are boxes for you to enter the various debtor and creditor balances. If you are tracking your unpaid customer and supplier invoices independently of CashManager, you will need to enter the gross GST amounts in the appropriate boxes.

However, if you have activated either Invoice Logs, or Full Invoicing, CashManager can extract the totals for you. All you have to do is click Calculate. There are, however, some important provisos with this, described as follows.

If you are using Invoice Logs, any invoices dated after the GST close-off date will be ignored, but if you have started to process the new month’s receipts and payments, and have paid off any invoices from before the GST close-off date, these will be ignored.  Therefore, if you will be working on the new month’s transactions before printing your GST Return, you should print the appropriate list of unpaid invoices (Invoice Log Report) as at the end of the GST period before starting the new month’s transactions. Then when you come to  complete your GST Return, simply enter these values from the reports into the appropriate boxes.

If you are using Full Customer / Supplier Ledgers to manage your customer and/or supplier invoices, clicking Calculate will provide the correct balance retrospectively. However, it will disregard any payments or deposits that have been posted to the customer or supplier ledger, but not applied against actual invoices, as it is unable to determine the GST nature of such payments/receipts.