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MYOB – How do I enter a BAS Refund Form from the ATO?
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Published on Monday, 21 July 2014 10:52
Have you had a Refund from your BAS that arrived as cheque or direct deposit from ATO (or is due and you want to enter it now), here are the steps to enter the transaction:
Go to Banking Command Centre
>Receive Money
>Deposit to Account (where deposit goes)
>ID# leave auto-generated # >Date
>Payor is ATO
>Amount Received $
>Memo: ATO BAS Y10 Q2 Refund
>Acct# in lower section to allocate: (Depending on your reporting obligations) GST Collected and type in the 1A as NEGATIVE amount from the BAS form, next line GST Paid and type in1B as POSITIVE, then PAYG Liability (or Payroll Liability) as NEGATIVE. Use NO TAX CODES. The Total Allocated (in the lower part of the transaction) should match the Amount in the top yellow section $ above, top RHS >Record if OK.
See the image below for detail.
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