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How can I correct an Error in the Final JUNE BAS where I used the wrong accounting method

Newbie

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Replies 1

Hi there,

How can I correct an accounting method used ERROR from the December BAS in the June BAS, simply put when requesting the GST/BAS figures in MYOB I accidentally used the Accrual Method  instead of the Cash Method basis we come under resulting in a Refund paid to us by the ATO in error.

 

I need to correct this in the final BAS under Purchases:

example $1,500 (credit offset amount in Purchases) however there is not sufficiant credits to cover this overpayment we received in a Refund due to lack of purchases with GST applicable due to COVID temporary shutdown so I can offset the current amount owed to offset this (i.e. only $342 in the June Purchases GST Paid, can you confirm if I can just put the figure owed to the ATO under GST Sales so I can pay the GST owed or is there another way to fix my error as you can't add a minus symbol in GST owed for payables.

Thanks in advance.

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 0

Hi @SueB

 

Good question.

 

Correcting GST errors on a later activity statement is detailed on our web page.

 

You can also view when you can correct debit errors on a later activity statement, or whether you need to lodge revisions for the respective BAS periods.

 

All the best with this.

 

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Hi @SueB

 

Good question.

 

Correcting GST errors on a later activity statement is detailed on our web page.

 

You can also view when you can correct debit errors on a later activity statement, or whether you need to lodge revisions for the respective BAS periods.

 

All the best with this.