BAS Preparation Checklist
Step | Menu Option | Details |
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1 | Reconciliations | The completion of the Month End checklist, including ledger reconciliations at the end of each month and before the BAS is prepared is strongly recommended. Refer to the 'Month End Checklist'. |
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2 | Close Periods | The facility in TASS to open and close accounting periods to source transaction entry is a powerful control available to school accountants. It is important that the period or periods reported on the BAS are closed so that no additional entries can be made. This is done in Finance > General Ledger > Setup Information > Years and Periods. Restricted access to the 'Years and Periods' menu option is recommended. |
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3 | Run Reports | Run the following GST reports for the period or periods covered by the BAS:
These reports include a summary by Tax Code and so provide the information for completing your BAS. Reconcile the tax total from each of these reports with the balance in the applicable General Ledger GST Control account. It is also recommended that you check these reports generally and check that the totals are reasonable. |
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4 | BAS Preparation | This BAS Preparation facility to accumulate the amounts that must be reported on your BAS. Click the 'Add' icon to generate the BAS Preparation form. The BAS Preparation form should be printed and checked against General Ledger GST Control Accounts. The amounts accumulated will be based on the mappings that you have defined in BAS Parameters. For more information, refer to 'BAS Parameters'. |
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