BAS report does not match when upgrading to QuickBooks QBi 2008/09

Legacy KB ID: 244

Question

Why doesn't my BAS report match when upgrading to QuickBooks QBi 2008/09?

Answer

A tax code is linked to a tax item, which is used to determine which amounts are calculated in each field within the BAS when it comes time to generate the BAS report. If the wrong tax code is applied to a daily transaction, the BAS will not calculate the figures correctly when the report is generated. If no tax is applied to a transaction then the amount will not appear in the BAS at all when the BAS report is generated.

It's important to apply tax codes associated with sales to transactions that are sales. Likewise, you must only apply tax codes associated with purchases to transactions that are purchases. If not, you may end up with an incorrect BAS report.

If these errors exist in your file, during the upgrade process an extra Tax Item is created to represent these incorrectly assigned transactions. These new tax items are inactive by default.

These are as follows:
  
      XXX-S         XXX represents the original tax code 
      XXX-P         S represents a Sales transaction
                           P represents a Purchase transaction

Follow to the instructions below to make these tax items active;

1. From the Lists menu, select Tax Item List
2. Click the Include inactive checkbox. The Inactive tax items will appear with an X next to the Tax Item name (Be sure to make all the required tax items active)
3. Right click on the tax item and select Make Item Active
4. From the Reports menu, select Tax > Simplified BAS/IAS
5. When selecting the tax fields (e.g G1, G11 etc), include all tax items that you would in the previous version as well as the tax items that were previously inactive (e.g GST-P, NCG-S etc)

Your BAS report should now match the figures from your previous version (2007/08).

How did we do?

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