A typical Australian BAS has three parts: GST, PAYG withheld and PAYG instalment. To reconcile the BAS payment in Zoho Books, record the two PAYG payments from your bank account, then match all three transactions to the ATO payment at once.

Applies to: Zoho Books – All clients

The three parts of a BAS

• GST: this comes directly from Zoho Books.
• PAYG withheld: the amount withheld from payroll. You can book it after each pay run as an expense to a liability account (which you'll need to set up), and then from the liability account to a bank withdrawal. The simpler option is to book it as an expense directly against a bank withdrawal.
• PAYG instalment: a pay-as-you-go instalment booked to Advance Tax. At the end of the year, the Advance Tax is used for the tax payment, and the remainder is either tax payable or a tax refund.

Reconcile the BAS payment

1. Create a payment from your bank account for the PAYG withheld amount. Book it as an expense to the PAYG withheld expense account, or to the liability account if you use one.
2. Create a second payment from your bank account for the PAYG instalment, as an expense directly to the Advance Tax account.

3. When you reconcile the BAS payment, select the three transactions on the right-hand side.

   

4. Once they're selected, the total should balance to 0, and you're done.

   

Note: You can't continue unless the Balance Pending is 0. If you haven't added the PAYG withheld or PAYG instalment payment yet, you can create it as a new transaction in the same screen.