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LILAC Document Help

BAS - GST

The following is an example of GST accruing in LILAC, and the subsequent CASH AT BANK posting in LILAC to reflect actual payment to the ATO.

Stock Account of the product purchased and sold.

The Audit Trial displays the purchase and sale of the product CD105
Purchase Invoice 000001 debits: BALANCE : GST : PURCHASE for $10
Tax (Sales) Invoice 000378 credits: BALANCE : GST : SALES for $18

BALANCE : GST contains a number of Sub Accounts
BALANCE : GST : PURCHASES
BALANCE : GST : SALES
BALANCE : GST : TAX PAID -> Is used to clear the GST accruing (GST Sales minus GST Purchases) in LILAC

BAS - GST

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BAS - GST

To see Nett Current GST: Reports > General Ledger > Ledger Detail
Within a selected / appropriate From Period, To Period
From Ledger: BALANCE
From Account: GST
Will display the BALANCE : GST : Sub Accounts

GST Sub Account total Sales and Purchases are presented at: Reports > General Ledger > BAS. 1A and 1B

BAS - GST

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BAS - GST

GST on Sales minus GST on Purchases is nett GST Payable, as seen at the foot of BAS Report.
Documents > General Ledger > Payment, post from (crediting) BALANCE : CASH AT BANK to -> BALANCE : GST : TAX PAID (Sub Account). To clear BALANCE : GST that may be owing to the ATO.

The last two lines of the Audit Trail display the postings from the above, Documents > General Ledger > Payment.

Reports > General Ledger > Ledger Detail now displays the posting to the GST Sub Account, TAX PAID.
Now the GST Account, overall, is in balance, in preparation for the next GST reporting period.