BAS Agent Services
Lodgements & Returns
We are an ATO Registered BAS Agent.
As a BAS Agent, we help you prepare and lodge your Business Activity Statements (BAS) and Installment Activity Statements (IAS).
Businesses registered for GST need to lodge Business Activity Statements (BAS) on a regular basis to keep in-line with ATO and tax obligations.
Taxes reported and payable on BAS are:
- Goods and Services Tax (GST)
- Pay As You Go (PAYG) instalments
- PAYG Withholding tax
- Fuel Tax Credits
- other taxes.
When you register for an Australian business number (ABN) and GST the ATO automatically provides the BAS documents associated with the ABN prior to the lodgement date. BAS preparation and lodgement may also be completed with hard copies of the documents. You may elect for these to be posted to you.
The BAS (sometimes also called “BAS returns”) are accessible after you sign into MyGovID here.
How My Great Bookkeeper help with your BAS
- Free initial consultation to assess your business needs.
- Provide you our Engagement Letter outlining service, price, and what you can expect.
- Upon receipt of the signed Engagement Letter we onboard you as our client setting up systems and process as discussed.
- Forward our BAS Tax Agent Form. Once completed this allows us to act on your behalf with the ATO in lodging your BAS through our ATO BAS Agent Tax Portal.
- Run through the Bookkeeper Good Practice Check List critical to control the accuracy of your BAS.
- Report BAS figures in our ATO Agent Portal.
- Send a copy of reported BAS figures to your authorised contact for:
b) Advise transactions you may have forgotten eg; sold a car owned by the business for Cash.
c) Sign the BAS.
d) Send BAS back to us for lodgement.
- Upon receipt, we lodge the BAS.
- Send you a copy of lodged BAS with payment details for payment.
- Take up a Journal Entry of reported figures in your accounting software to clear out liabilities, take up assets, and allocate amount payable or refundable to the ATO Integrated Client Account – BAS.
- The bank feed transaction for payment or refund of BAS is simply accounted to the liability account called: ATO Integrated Client Account (ICA) – BAS.
- The ATO Integrated Client Account (ICA) – BAS account is reconciled when processing the next BAS lodgement as outlined in the Bookkeeping Good Practice Check List.
Overall, My Great Bookkeeper can assist with BAS preparation and lodgement, GST checking and bookkeeping services, as well as all BAS Tax Agent services.
We have compiled some of the common issues people experience when completing their BAS returns, as well as helpful information on how to resolve them. Please feel free to contact us if you have other queries.
- To access the ATO: MyGovID is not the same sign in as MyGov.
- To access MyGov used for individual login access to the ATO – Sole Trader
- To access MyGovID can access all business structures but is needed if you are not a sole trader such as companies, trusts, not-for-profit etc.
- Software BAS Codes for ‘Not Reportable on BAS’ are Xero BAS Excluded | MYOB = N-T | Intuit QuickBooks = Out of Scope.
- Bank Fees are not reportable on BAS.
- Motor Vehicle Registration not reportable on BAS.
- Stamp Duty not reportable on BAS.
- Suppliers not registered for GST not reportable on BAS! DO NOT code these as GST Free it is NOT a GST Free supply.
- Staff Amenities GST? This is one area where you will be using GST Free. Tea, Coffee, Sugar, Milk are GST free supplies.
- For where to find ATO GST list of food items click here
- For more DIY Bookkeeper Warnings see Accounts Payable Management relating to GST registration, Tax Invoices, and ABN Registrations.
- Before lodging BAS check processes on the Bookkeeping Good Practice Check List?
- Have you check to see if your BAS reconciles with the BAS Control accounts. BAS Control Accounts are: GST, PAYG Withholding, ATO ICA – BAS. The balance of BAS Control accounts must be a true to outstanding balances. For more on reconciling for BAS see Bookkeeping Good Practice Check List.
- For more Tips see ATO|BAS and GST Tips.
- For more on How To Pay Your BAS ATO.
- MYGOVID login spinning not allowing you to sign in? Welcome to our world, this link maybe of help to you MYGOVID System Maintenance.