Australia

Saasu supports Australia Zone in for GST Tax, Tax Invoices, Recipient Created Tax Invoices and Pay-as-you-go Payment Summaries (PAYGPS)

GST Tax

Saasu supports Australian Tax Codes for the sale of goods and services. Updates are provided as a standard part of the service. See the ATO website for full details.

Tax Invoices

Saasu supports the following ATO tax invoice requirements for Valid tax invoices and GST credits

Ensure that you include your ABN in your document templates and your recipients ABN where required by including the Merge Field {BIType} in your invoice template. Where the GST to be paid is exactly one-eleventh of the total price, show the GST amount separately or provide a statement such as ‘total price includes GST’. Include statement as required via PDF Invoice Template. Where the GST to be paid is less than one-eleventh of the total price, show the GST amount and the total amount excluding GST for the sales. Include * (asterix) in Item Code and/or Description to denote Taxable Items.

FAQ’s

Transactions with tax codes don’t appear in my BAS Reports?

There could be a couple of reasons:

  • Quotes and orders ARE NOT included in the BAS report. You need to convert them to tax invoice first. If you’re using Tax Code report, there’s an option for you to include orders in the report.
  • Cash vs Accrual mode. For sales and purchases, cash mode works off the payment date whereas accrual works off the invoice date.
    E.g. Let’s say you have a sale with G1 tax code on first quarter (Jan – Mar) but payment for this invoice is in the second quarter (Apr – Jun), then this amount will be reported on first quarter under accrual mode but second quarter under cash mode.

What tax code should I use for a transaction?

Saasu isn’t an accounting advisory service so we can’t answer this type of question. We have a simple Australian Tax Codes list made up from information supplied on the ATO website but it is general and educational only and shouldn’t be relied upon for specific circumstances.

Why can’t I print and send a BAS form from Saasu?

If there was one or even just a few forms the ATO requires then we would build this into Saasu. The variety of form layouts and unique information prevents us doing this. We believe that the vast majority of businesses can’t or won’t remit a self printed BAS form from accounting software to the ATO due to unique identification codes and other pre-filled information etc. required on their forms. Accordingly, for the time being we don’t have plans to support this.

Why does the income in my Profit and Loss differ to the BAS?

Quite often this is because companies in Australia are run as Cash for GST and Accruals for Company Tax. It’s a good idea to know whether you are “Accruals” for Income Tax purposes even though you are “Cash” for GST. Quite often customers assume they are “Cash” reporting for everything but later find out they are actually Accruals for reporting Income and Expenses for Tax purposes (Company Tax) but are Cash for GST purposes. This is quite common and we suggest users check with their accountant or the ATO.

Why is my BAS income different to the income shown on the Dashboard Profit and Loss?

Profit and Loss reports accruals basis. You may be running a “Cash” BAS and comparing it to the “Accruals” P&L Summary on the dashboard. To get a better comparison you need to compare Cash Profit and Loss with Cash BAS.

Does Saasu Accruals accounting?

Saasu provides for both Cash and Accruals. Reports like the P&L have both Cash and Accruals versions while the Balance Sheet by its nature reports assets, liabilities and equity on an Accruals basis so there is only one version. Balance Sheet reports display what you owe and what you own even if in a Cash accounting sense these items haven’t been paid for.

Does Saasu do Group Certificates (PAYG Payment Summaries)?

PAYG Payment Summaries can be prepared in the Reports area under the Payroll Section.

Why do Sales appear twice in the BAS when I use G2, G3 or G4 related tax codes?

This is a common misunderstanding made by customers not familiar with how the BAS works with respect to Exports [G2], Other GST Free Sales [G3] and Input Taxed Sales [G4]. Sales enter the BAS at G1 and some are removed via G2, G3 and G4 (Total for which is G5). This generates the Sales subject to GST at G8. Saasu does this according to ATO specifications.

GST upfront on contracted payments?

Sometimes you may purchase a product or service on a payment plan. The seller maybe be liable to collect GST upfront and might accordingly charge you the full GST amount along with the first payment. In Saasu enter the full contracted amount with GST as a Purchase Invoice. Add a Purchase Payment each period to this invoice. If you account for GST on a Cash basis then Saasu will include payments made in that BAS period in your BAS report run. If you account for GST on an Accruals basis and are entitled to claim your GST credit upfront then Saasu includes the full GST amount in the BAS when run in Accruals mode.

How do I record a pure GST payment?

See capturing pure GST here.