What to check in Ledra before preparing your BAS
Check your reporting period, bank matches and GST coding in Ledra before reviewing BAS figures with your bookkeeper or accountant.
Published
Before you use the figures for your BAS, bring your books up to date and check the transactions behind the GST totals. In Ledra, the Activity Statement's Transactions tab lets you review those entries alongside the summary.
Start with the period you are preparing. If you are handing the work to your bookkeeper or accountant, keep a short list of anything you have not resolved so they know what still needs attention.
Check the period and GST method
Open Reports and choose Activity Statement. Check the reporting period and the GST accounting method shown for your organisation against your ATO arrangements. Your statement also depends on which tax obligations apply to the business.
Cash and non-cash accounting can put the same sale into different GST periods. On a cash basis, GST generally follows the payments you receive and make. A part-payment brings in the corresponding part of the GST. On a non-cash basis, invoice and payment timing both matter, generally with the earlier event determining the period.
Check the ATO's explanation of GST accounting methods if you are unsure which applies. Ask your adviser before changing methods; changing a software setting alone does not complete that process.
Bring in missing records and match the bank payments
Record any missing sales invoices, supplier bills and credit notes for the period. Compare the bank transactions in Ledra with your bank statement, including accounts you use less often. A bank feed may still be waiting for recent transactions, and a statement import may cover only part of the period.
Where a receipt pays an invoice already in Ledra, match it to that invoice. Recording another sale for the receipt can double-count the income. Use the same approach for a payment against an existing bill. Our bank feeds and reconciliation guide walks through matching.
Look into unexplained differences before relying on the totals. Transfers between your own accounts and money you put into the business need different handling from customer sales.
Review the GST on the actual transaction
Use the Transactions tab to find entries you do not recognise and compare them with the original invoice or receipt. Check the amount, GST treatment and date, particularly for imported records or items whose defaults were set some time ago.
A default tax code is a starting point. The document and the nature of the transaction determine whether that code fits. Do not change everything to GST just because the business is GST-registered, or assume a zero-GST entry belongs outside the BAS.
For purchases, check that you are entitled to the GST credit. Private use and purchases relating to input-taxed supplies can affect what you can claim. You generally need a valid tax invoice for a purchase costing more than $82.50 including GST before claiming its credit. Keep purchase records for smaller amounts too. The ATO's GST credit guidance covers the conditions and exceptions.
If you cannot explain an entry, keep its reference and ask your registered tax or BAS agent. Changing a total to make it look right can leave the underlying transaction wrong.
Check the summary against the entries
In the GST section, G1 is total sales, 1A is GST on sales and 1B is GST on purchases. The labels you need depend on your reporting arrangements; the statement may also include PAYG withholding or other obligations. Use the form and instructions that apply to your business.
If a total surprises you, go back to the Transactions tab and look for the entries making it up. Check missing or duplicated documents, part-payments and credit notes before considering an adjustment. Keep an explanation and supporting records for any adjustment your adviser recommends.
A cash-basis example
Synthetic example, not customer data. A GST-registered business reports on a cash basis. Assume these are ordinary transactions taxed at 10%, the purchase is wholly for eligible business use, and the business holds a valid tax invoice.
| What happened in the period | GST amount for this example |
|---|---|
| A customer paid $550 of a $1,100 invoice, both amounts including GST. | $50 GST on the receipt |
| The business paid a $220 supplier bill, including GST. | $20 eligible GST credit |
The difference between those GST amounts is $30. This is only the GST part of the example, not a complete BAS amount payable. Other transactions, adjustments or obligations can change the result. The unpaid part of the customer invoice also needs to be dealt with in the appropriate later period.
Export the figures and finish the review
Use Export to download the Activity Statement summary as a CSV. Send it to your adviser with the supporting records and your list of unresolved entries, or use the reviewed figures when completing your BAS through the appropriate lodgement channel.
You can save work in progress in Ledra. Finalize saves the final statement and may also record accounting entries for the GST balance. Review the figures before taking that step. It does not lodge the BAS with the ATO or pay the amount due, so check the lodgement receipt and actual payment separately.
The ATO's BAS completion guidance explains the reporting process and links to lodgement options. For Ledra's GST tracking and reporting tools, see GST and BAS preparation.
This is a bookkeeping preparation guide, not advice about your business's tax treatment. Ask a registered tax or BAS agent about transactions or adjustments you are unsure of.