IMPORTANT NOTE: This setting is not visible for all customers. This report is only available for legacy customers and has since been superseded by the GST/VAT Returns report.
For more information on the GST Returns report, please see Setting up an Owner Tax Returns.
Australian GST is filed on either a cash or non-cash basis (accrual) basis according to the Australian Tax Authority. The Simpler BAS Statement Report is designed for non-cash basis (accruals), so it's important to make sure your owners are on a non-cash basis if you are going to provide them with this report.
Transactions will be included in the report based on the Issue Date, so any invoices with an Issue Date outside the selected period will not be shown to the owner. Once you have provided the owner with a report for a specific date range, any new invoices created after that should not have an Issue Date within the period you have already reported on.
The Simpler Business Activity Statement report can be found in the Financial section of the General reports, for Australian customers only.
To run the report you will need to select:
- Trust Account
- Start and End Dates
- Run report by - You can choose to run the report by Owner or Owner Ledger:
- Owner - includes information for all property ledgers owned by the selected contact.
- Owner Ledger - includes information for the selected ledger.