This Live Online training event is a practical follow-up to the GST Basics session and shows you how to record your organisation’s transactions on the GST Calculation Worksheet. Using practical examples, we examine each of the labels on the worksheet and explain what to include and not to include at every step.
For convenience, the session is broken down into two main parts: revenue (your supplies) and expenditure (your acquisitions) and shows you how each item of income or expenditure is recorded in the Worksheet. We also explain adjustments, “adjustment events”, specific adjustments and how to correct mistakes that might have been made on a previous BAS.
Regardless of the type of software you use, this training explains how, having completed the GST Calculation Worksheet, the numbers are recorded in your BAS.
The session concludes with an examination of the cash vs accruals basis of accounting for GST and the correct way to record reimbursements to employees.
Who should attend
Finance staff who have responsibility for your BAS preparation and lodgement
Finance staff who have any input into your BAS preparation
This session, although a follow on from the GST Basics training, can be done in isolation.
Note that the ATO recommend that due to the nature of GST and as part of an ongoing GST risk management process that training be undertaken for all involved staff on a regular basis.
CPD points = 2 (hours)
How does it work?
Recordings can be viewed twice. You can fast forward, rewind or pause the playback at anytime. If you stop playback this will count as a view.