The record refund link inside the GST Centre can only be applied to a previously lodged BAS . In order to record that refund/payment against a previous BAS period, you have to first find the previously lodged BAS the GST Centre and then select the Record Payment option in the Action column.
Current GST Centre
- Go to the GST Centre from the left-hand menu.
- Click Record Payment in the Action column for the BAS period you wish to record the refund against.
- Change the radio button option to Refund.
- Select the date of the refund and the account the refund was deposited to.
- Input the amount of the payment and any memo for the transaction.
- Click the Save button.
How to Record a Refund when you don't lodge your BAS through the GST Centre:To record a refund when you dont lodge your BAS through the GST centre, follow the steps below:
- Select Gear Icon in the top right-hand corner
- Select Journal Entry
- Line 1 & 2 will be your BAS Liabilities Payable account
- Debit the amount you Collected on GST
- Credit the amount you Paid on GST
- Line 3 will be your BAS Suspense (or clearing account you use) enter the required amount on the debit side
Please Note: Amounts in the picture are an example only.
Record a GST Refund in the New GST experience:
- Select GST on the left hand menu
- Under To Pay, click Record Refund
- Select the Account the payment will be deposited into and the Date of the refund
- Input any Memo for the transaction
- Select Save