001 or Branch number display after the ABN on invoices

Legacy KB ID: 1117

Question

Why does the digits 001 / Branch number appear on my tax forms (invoices, cashsales, estimates etc.) when I print them?

Answer

The extension that appears on the end of your ABN is your company's "Branch Number".

An Explanation of this number can be obtained from the Government website at: https://www.taxreform.ato.gov.au/content.asp?doc=/content/18506.htm&from=TR/QA

We have included this number to suite businesses who have elected to separate their entity into separate branches and want to use QuickBooks to track these branches seperatly

According to the ATO, a branch of an entity must provide their Branch ID along with the ABN. In the case where the entity (business) is not a branch then the ID can be left as 000 or 001.

  1. Open the appropriate company file

  2. Click on the Edit menu and choose Preferences

  3. Scroll down to the Tax and choose Company Preferences

  4. Enter your ABN/ Branch ID in the Tax Rego ID fields.

 

Installing QuickBooks Service Pack two or higher will remove this field from invoices. This can be downloaded from;

https://www.quicken.com.au/support/updates/QuickBooks/default.aspx

How did we do?

Although fully paid some invoices are still showing outstanding amounts.

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