What is the difference between the Calculation Sheet and Derived from Accounts methods of completing the GST section of the BAS?
Two methods the ATO has allowed businesses to use to complete the BAS are the Calculation Sheet and Derived from Accounts methods (note: some conditions apply). With the calculation sheet method, all GST fields are required to be completed and tax paid and collected is calculated by dividing fields G8 and G19 by eleven. Note that if you have manually adjusted your tax amounts through the tax zoom arrow when recording transactions, the Calculation Sheet method will not correctly calculate the tax collected and paid. With the Derived from Accounts method, only certain GST fields are required to be reported, and the tax paid and collected is derived from your software. You should use this method if you have manually adjusted the tax amount in the Tax Information window when recording a transaction. Please see MYOB support note Derived from Accounts method of reporting GST. For more information regarding the use of your software and the different GST options please see the support note Usi
