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  • #987743
    rthorntn
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    Hi,

    I just submitted my BAS and paid the ATO for last quarter and have just realised I missed out on one receipt for $550 inc. GST (Office furniture), its only $50 so I am not fussed on getting the money back but I just want to make sure I properly account for it in Xero, can somebody please give me a pointer?

    Thanks!

    Richard

    #1164151
    Past-Member
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    I am no expert, but I do use Xero. Just make a Spend Money transaction with today’s date but a reference date of the actual date of spending. And reconcile. It will then be in the next 3 months BAS.

    I also find it good to have my personal amounts deducted for relevant transactions like petrol, electricity, gas, phone. SO much easier to do it as a I go along. If you set up a transaction and save it, you can copy it and make a new transaction for the next time.

    Eg I have 3 lines in a transaction.
    Petrol
    Drawings 55%
    Petrol (-x)
    Total
    See image attached.

    #1164152
    rthorntn
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    • Total posts: 20
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    So it is OK to put a missed receipt from the previous quarter on to your current BAS and claim it back?

    #1164153
    Bronwyn Baird
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    Hi Richard

    You are able to lodge adjustments in future BAS as long as they are within the threshold of $1,000. Therefore $50 is well within.

    As Karen mentioned you just need to date the transaction/expense claim in the current BAS period to ensure it is picked up in your next BAS.

    I would also recommend doing an annual reconciliation before you lodge your June BAS to make sure that you haven’t missed any other claims.

    Hope this help, please let me know if you need further assistance.

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