Check Your GST Basis (MYOB)
Summary
During conversion, the Xero Organisation is set up using the GST basis in your source file.
Check this setting and correct it, if needed, before submitting your file for conversion.
NOTE: Ensure the GST accounting basis is set to reflect how you report GST to the Australian Taxation Office (ATO) or Inland Revenue (IRD).
Checking the Accounting Basis in MYOB
MYOB Desktop
To check whether the company file is set up on a cash or accrual basis:
- Go to Setup
- Select Company Information
- Click BAS Info
This setting shows whether the file is configured to report GST on a cash or accrual basis and determines how transactions are reported for GST purposes during the conversion. If the GST accounting basis shown is incorrect, update it before submitting the file for conversion.
WARNING: This check is especially important if the file was exported from MYOB Online.
MYOB Online
To check the GST accounting method in MYOB Online:
- Click your Settings
- Select Report Settings
- Click Business Settings
This setting shows whether the file is configured to report GST on a cash or accrual basis and determines how transactions are reported for GST purposes during the conversion. If the GST accounting basis shown is incorrect, update it before submitting the file for conversion.
Post Conversion: Changing the GST Basis in Xero
WARNING: We recommend pausing work in the Xero organisation until the GST Basis has been corrected.
Simply updating the setting in Xero may not be sufficient, and additional adjustments may be required.
The changes involved are technical in nature and ideally be performed by a accounting/bookkeeping profesional.
Reporting Differences
Cash and accrual reporting can differ between accounting platforms. Refer to the Comparing Data – Cash versus Accrual support documentation for additional information.
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