quick explanation on how to do a BAS - first time doing one

 Author: AlliATO(Community Support)Community Support

20 July 2023

Hi @EmHen

Most new business automatically default to what’s known as Simpler BAS reporting method this is where you only complete 3 labels, G1, 1A, and 1B.

If your lodging using our online services, it will automatically complete the summary of what is payable or refundable.

If you’re completing the paper form, then you’ll need to complete the summary section to manually work out the payable or refundable amount.

G1 is your total sales, this also includes the GST.

1A is the GST that was included in the G1 amount.

1B is the amount of GST you paid in any business-related purchases.

If you have a look at our Complete your BAS page, step 1 explains what amounts are classed as sales and placed at G1. Step 3 explains what capital and non-capital purchases are, the GST you paid on both capital and non-capital purchases goes at 1B