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GST increasing adjustment how to lodge using business portal? Cannot enter negative value1B Purchase

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Newbie

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I need to lodge an increasing adjustment (Property GST). I don't know how to lodge the information using the business portal. Activity statements have limited fields for entry. Only Fields 1A , 1B are available. 1B cannot accept negative values. How should I lodge this on the BP?

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Most helpful response

Devotee

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Sounds like you're on simpler bas reporting its the default GST reporting option for small business. There's some info on how to make your adjustment on the website see here https://www.ato.gov.au/Business/GST/In-detail/Managing-GST-in-your-business/Reporting,-paying-and-ac...

And here https://www.ato.gov.au/Business/GST/In-detail/Managing-GST-in-your-business/Reporting,-paying-and-ac...

You can still use these examples and worksheets to calculate your total sale G1, gst on sales 1A and gst on purchases 1B.
1 REPLY 1

Most helpful response

Devotee

Replies 0

Sounds like you're on simpler bas reporting its the default GST reporting option for small business. There's some info on how to make your adjustment on the website see here https://www.ato.gov.au/Business/GST/In-detail/Managing-GST-in-your-business/Reporting,-paying-and-ac...

And here https://www.ato.gov.au/Business/GST/In-detail/Managing-GST-in-your-business/Reporting,-paying-and-ac...

You can still use these examples and worksheets to calculate your total sale G1, gst on sales 1A and gst on purchases 1B.