Ardex tracks GST on all transactions and reports GST collected and paid for the purpose of completing Business Activity Statements. The GST reporting features of Ardex are located in the “Reporting” section of the application. The features are called “Tax Analysis” and “Business Activity Statement”.
Before calculating GST for BAS in Ardex make sure that all month end procedures including bank reconciliations have been completed for each month in the GST reporting period. For example, if GST is to be calculated for January to March, make sure March month end procedures are complete.
Tax Analysis Tool
Go to reporting
Click on Tax Analysis located in General Ledger Financials
Set the “From Date” to be the first day of the GST reporting period, for example 1 January 2013.
Set the “To Date” to be the last day of the GST reporting period, for example 31 March 2013.
Your accountant can advise you on whether to select “Use Invoice Date” or “Use Statement Date”. Make sure you select the same option each time you prepare BAS as switching between reporting methods can lead to GST reporting errors. Use Invoice Date is the default setting and will normally be the best option. This option reports income on the basis of invoice creation date - each horse transaction is converted to an owner invoice with the same date as the horse procedure date, and this will be the date income is recognised. We recommend that you do not enter transactions to periods that are closed and already reported to the ATO. However, where horse transactions are entered to a closed period, then picked up and reported on owner statements generated in the current BAS period, Use Statement Date may be a better option as it will recognise this income in the current period, not the period already reported to the ATO.
Click the “View Report” button at the top right to get a list of account movements and GST Tax collected and paid for the reporting period.
Hover over any account where GST Tax Cr and Tax Dr amounts are not what you would expect them to be for the period and click on the gear that appears at the end of the row
This opens a modal which allows you to review all transactions recorded to the account in the selected period.If you find any mistakes make reversals and corrections through “Finance” until you are satisfied that GST tax reporting is correct.
Ardex places a small exclamation mark (!) next to accounts where tax credits and debits are different from system expectations. This is a very useful additional tool for finding abnormal tax movements in Ardex.