Check Your GST Accounting Basis (AU)

Check Your GST Accounting Basis (AU)

We set up the Xero organisation based on the Accounting Basis in your source file. It is recommended that you check this and correct if necessary prior to uploading the source file to us for conversion.
Alert
NOTE: For Australian Conversions set the Accounting Basis as per your GST Accounting basis.

Checking GST Accounting Basis

MYOB Desktop

To check the MYOB file go to:
1. Go to  Setup
2. Select Business Information
3. Click on the button BAS info. You will find whether the company was set up with an Accounting Basis of cash or accrual and how it will be treated in the conversion.
Alert
NOTE: This check is especially important if you have exported from MYOB Online

MYOB Online

To check the MYOB online file go to:
1. Click your Business Name
2. Select Report Settings
3. Click on Business settings. You will find whether the company was set up with an Accounting Basis of cash or accrual and how it will be treated in the conversion.

QuickBooks Online

To check the QuickBooks online file go to:
1. Go Settings ⚙, then select Account and settings.
2. Go to the Advanced tab.
3. In the Accounting section. You will find whether the company was set up with an Accounting Basis of cash or accrual and how it will be treated in the conversion.

Reckon and QuickBooks (Desktop)

There are two places in Reckon/QuickBooks files. Please make sure that both are set to the correct accounting basis.

1. Go to  Edit 
2. Select Preferences 
3. Select  Sales Tax  / Tax
4. Select Reports & Graphs. Here will define whether the company was set up as reporting on a cash or accrual basis. This basis needs to match your Accounting Basis for the purpose of the conversion.

5. Then go to Edit
6.  Select  Preferences 
7.  Select  Tax   
8. Select Company Preferences. The Accounting Basis in these two areas should be set the same to avoid confusion.

If the reporting here is not correct please update it before you  submit it to us for conversion.

Changing GST Basis in Xero

Please see here for more information as to how to change GST basis post-conversion.

WarningWARNING: We recommend pausing work in the Xero Organisation until the GST Basis is corrected. The changes detailed above are technical and it is recommended they be performed by an accounting professional. 

Other

Reporting Differences

There are Cash/Accrual reporting differences between each Accounting Package. Please see here for additional information.



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