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Larger businesses (turnover more than $2 million) have to use accrual accounting for GST purposes, but smaller businesses have a choice. Both methods have advantages and disadvantages, so it is up to the individual business owner to study the implications and make a decision.

You will need to double check with your accoutant which method best suits your company.

Cash Basis GST applies as transactions are recorded when cash actually changes hands. Your business income and expenses are recorded when they are paid, not when you issue or receive an invoice.

Ensure you have notified Readysell before you go live as to whether you are Cash Basis GST.

Create a Folder on the Server for the GST Reports and a Sub Folder for Each Quarter.

GST Items Cash Basis List View

1. From the Navigation>Financials>Tax>GST Items 

2. A list of all GST Items will display. 

3. Select from the Drop Down Filter Box at the top Ribbon 'GST Cash Basis View' or create your own Cash Basis GST View View Variants Button

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4. Either way to ensure that you select the right data for the date range to reflect the BAS you are about to Submit follow the steps below:

   1. From the List View, Filter the field of 'Extracted' set to Unchecked or 'Extracted <> True
   2. Then filter the 'Cash Basis Due Date' to be the date less than the first day of the next quarter. Eg if your GST Bas Quarter end date was 31/5/2016, then the filter for the cash basis due date field would be 'cash basis due date Less than 1/6/2016'
      OR

   3. Click on the Cash Basis Due Date Column heading and click on the filter

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   4. Select Filter by Specific Date

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   5. The list view will display and the list will be empty

   6. Down the Botton of the list view for GST Items Window will display a Filter, Click on Edit Filter

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      Change the filter to read as follows (see screen print):
      Remove the Cash Basis Due Date is greater than or equal to '' by clicking on the X
      Change the Cash Basis Due Date is Less than the first day of the next month into the next quarter
      Add the Line of 'Extracted Equals False'
      Click on Apply
      Click Ok

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   7. The system will draw to the screen, all transactions that have not been part of any GST Batch for all Cash Basis Due Date less than the 1/7/2016 as per the example above
      Right Click on any one of the Column Headings and Select 'Show Report Footer'
      On the Column for GST Paid and GST Reviewed in the footer, right click and Click on Sum to get a total.
      Check the total of the GST Paid and GST Received Columns.
      These columns should equal the value that will be reported on the Detailed GST Report and the GST Batch you are about to extract.

   GST Cash Basis Reporting
   

1. From the Navigation panel click on Financials and then click on Reports 
2. Select 'List Reports'
3. Search for 'GST Detailed Report'

1. 1. Click on Filters Tab

   2. Click on All GST Items. If there is no Filter on this one, Copy it and create a filter to stand for Cash Basis GST.

   3. Filter will need to be set up like this : 

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   4. Highlight the Query to stand for Cash Basis 

   5. All you need to do is change the "Cash Basis End Date"  to be the first day of the next month and Click on Save in the Top Ribbon

   6. Then Click on 'Show report using filter'

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   7. Report will appear to screen

   8. Check that this report lines up to the GST Items and GST Batch when you extract the batch.

   9. Leave the report on the screen

   10. Once you have extracted the GST Batch and reviewed the data, compare the gst batch to the detailed list report and the list view on the gst items.

   11. Once you are happy that the results on this report are correct feel free to export it and save it. 

   12. Click on 'EXPORT TO" BUTTON

   13. Save the report in the GST Reports Sub folder for that Quarter.

To start a GST Batch run for Cash Basis

Before Extracting a New GST Batch, check and ensure that the previous GST Batch has been posted and no GST batches are outstanding.
The system will not allow you to extract a New GST Batch until the previous batch is posted.  

1. From the Navigation panel, click on 'Financials'> 'Tax' > 'GST Batches'
2. Click on 'NEW'
3. Click on 'Extract GST BATCH'
4. Click on 'GST Item Set'
   1. First time around, Click on New to create the GST Item Set or if the set already exists just select it
   2. First time around Enter a Name in the Name field. E.g: Your Site Name followed by GST Cash Basis
   3. First time around Enter the "Start From Date" and "End At Date" ( this is the date of the gst quarter) The start date is usually back dated to some time in the past and the end date is the end date of that GST Quarter.
5. Click on "save and close"
6. Click on Ok to run the GST Batch for the date range you have entered. Remember to leave the start date as a back dated date and the end date to be the last day of the gst quarter
7. In the Detail Area, Both a Summary Tab and Detail Tab will display the result. Check this thoroughly
8. Check that the transaction types have the correct gst code and are in the right bas code.
9. If any transactions need to be corrected please correct and re extract the gst batch on the same GST Batch run. If any of the Transaction Types are in the wrong bas code area, check that the raw data has the right tax code that is the product code. Then all you need to do is export the summary report and cut and paste the Transaction Type/Tax code into the right Bas Code Area and check the totals .
10. Once all data looks correct save it clicking on "SAVE and CLOSE".
11. Export the Summary and Detail Report to Excel by Selecting Show In Report
12.  and save it into the correct GST Sub Folder
13. Click on report and gst worksheet and detailed gst report into the sub folder for the quarter in question.
14. The GST Batch will remain with a Status of OPEN until you have reviewed the data and then POST it.
15. Before you post the GST Batch Readysell suggests that you run a GST Detailed Report and compare both the GST Detailed Report to the GST Batch.
16. If you are happy with the result, go back to the GST Batches, Highlight the Outstanding GST Batch and Click on "POST GST BATCH". By Posting the batch, this sets the flag of ' Extracted' on all the GST Items that are on that batch. 
17. Now you can run the GST Worksheet
18. Highlight the GST Batch number and click on 'Show In Report'
19. Select 'GST Calcuation Worksheet'
    This worksheet is not to be lodged with the BAS it is purely to be used to transpose the figures and also remember to save it into the GST reports folder.