How does the GST Statement report work?

The GST Statement report is the equivalent of a BAS Statement except it does not include PAYG & WET

The GST Statement can be run on either a cash basis or accrual basis depending on your circumstances.

The GST report lists all GST related transactions and their GST component, occurring in the specified period. If there are partial payments of Invoices the GST is allocated on a pro rata basis.

The report lists receipts (on Invoices), expenses, disbursements and other income received. You will need to specify the date range that you want the information displayed for.

Importantly, if you are running the report on an Accrual basis, the calculation comes from Invoices issued, not receipts and will also include write offs.

If you are running this on a Cash basis, calculation comes from Receipts.

On the expenses side the report uses the date incurred for Accrual and date paid for Cash, so if an expense is unpaid then it will appear on the accrual report but not the cash report.

It also includes a BAS summary which includes all the codes (Eg G1, 1A, 1B etc) that you find on a BAS Statement, so you only need to trans-scribe the amounts onto the BAS Statement making the filling out of your BAS statement very quick. In order for this report to be accurate all relevant information must have been accurately entered into the system (including dates and amounts).

SILQ only deals with GST and no other items on the BAS such as PAYG, WET etc. If you need to deal with these things, you will need to make the necessary adjustments to values accordingly.

Here are some other common questions regarding the GST Statement (Summary):

Why don't my Accrual GST Report (BAS Summary) and Accrual Profit & Loss Report balances match?

Why is there a difference between the Income/Expense Total and the Income/Expense in the GST Summary?