Business Activity Statements

Overview

Note: Help content (except videos) has been updated to reflect the UI/UX changes in BQE CORE.

Australia-based business owners and companies need the ability to run and manage Business Activity Statements (BAS) to report their taxes to the Australian Tax Office. The Business Activity Statements screen in BQE CORE allows you to create and review BAS report where values are pulled automatically by CORE, but you can enter any payroll numbers that are not tracked by it. CORE uses your existing accounting data to pre-fill the various fields on this Government form and complete the various sections. You can also review your previously completed final or draft BAS reports and easily share the statements with your accountants or others by exporting them as PDF, Excel or CSV files. Click to watch this video on creating BAS in CORE.

Field Descriptions

How To

Create Business Activity Statements

Download BAS

Email BAS

Print BAS

Convert to Draft

View Reports

Mark Screen as Favorite

Field Descriptions

Create Business Activity Statements

To create BAS, watch this video or follow these steps:

1. Open the Reconciliations screen from the side menu > Accounting > Chart of Accounts.
   
   
   
   
2. In the list view, click More > Prepare Activity Statement (BAS).
3. On the Business Activity Statements screen, click Create New on the top-right.
   
   
   
   
4. On the Create Business Activity Statements screen, enter the required information. Check Field Descriptions above for details.
   • Start Date/End Date
     
     
     
     
5. CORE automatically pulls the relevant accounting data to pre-populate some of the sections, except Payroll and Tax. You can check the Goods and Services Taxes (GST) section and add/edit values for the below items. Check Field Descriptions above for details.

   • Pay Tax Withheld: This section includes the following:
     W1
     W2
     W4
     W3 
     W5: Total amounts withheld W2 + W4 + W3

   • PAYG Income Tax Installment (Option 1): This section includes the following:
     T7: If varying this amount, complete T8, T9 and T4
     T8
     T9
     T4

   • Amounts You Owe to the Tax Office: This section includes the following:
     - 1A
     - 4
     - 5A
     - 8A

   • Amounts the Tax Office Owes You: This section includes the following:
     - 1B
     - 5B
     - 8B

   • Payment: GST on Sales - GST on Purchases

6. Choose the Save option: Save as Final or Save as Draft. Depending on your company’s workflow, you might need to revisit the draft at a later time and finalize it. After finalizing BAS, it becomes read-only.

The BAS record is displayed on the grid.

Note: The invoice amount paid with the Write-Off, Debit or Trust Fund payment method (cash type accounting) is not included in the total sales (G1). Example: If the invoice amount is $100 and you pay the full invoice by writing it off by $100 or applying a debit payment to it, the BAS displays $0 as the amount in sales. Also, the draft invoice amount is not included here. Similarly, GST/Sales Tax Inclusive is not shown on the BAS for the debit, write-off, or trust fund payments.

Download BAS

You can download the details of the BAS as a PDF file directly.

To download BAS, watch this video or follow these steps:

1. Open the Reconciliations screen from the side menu > Accounting > Chart of Accounts.
   
   
   
   
2. In the list view, click More > Prepare Activity Statement (BAS).
3. On the Business Activity Statements screen, select the BAS on the grid whose details you want to download and click  to select Download PDF. You can also access this option from the details view under the Actions menu.
   
   
   
   
4. It prompts you to save the PDF at the relevant location, say your Desktop. Click Save.

Email BAS

To email BAS to a client, watch this video or follow these steps:

1. Open the Reconciliations screen from the side menu > Accounting > Chart of Accounts.
   
   
   
   
2. In the list view, click More > Prepare Activity Statement (BAS).
3. On the Business Activity Statements screen, select the BAS on the grid which you want to email and click  to select Email. You can also access this option from the details view under the Actions menu.
   
   
   
   
4. On the Compose Email dialog, enter the required information. Check Field Descriptions above for details.
   
   

• To

• Subject 

• Message

5. Click Add Attachments at the bottom if you want to attach any files to the BAS. You can also drag-and-drop any file into the Compose Email window from your desktop or email program. Then click Send Message.

If the email is sent to an address that is no longer working, there is a bounce-back email sent to let you know about this. You can also check the detailed video on emailing in CORE.

Note: You cannot remove the default or system attachments. Only user-defined attachments can be added or removed. CORE restricts the file size of the attachments to 10 MB and sends the attachments as a single zipped file.

Print BAS

To print BAS:

1. Open the Reconciliations screen from the side menu > Accounting > Chart of Accounts.
   
   
   
   
2. In the list view, click More > Prepare Activity Statement (BAS).
3. On the Business Activity Statements screen, select the BAS on the grid which you want to print and click  to select Print. You can also access this option from the details view under the Actions menu.
   
   
   
   
4. The statement displays in the viewer. You can zoom, download or print the statement from here using the toolbar.
   
   
   
   

5. Alternatively, you can right-click on the statement and select Print or other options.

Convert to Draft

If a BAS report is marked as final, the input fields become read-only. So, if you need to make any edits to a final BAS report, you must first convert it back to a draft and then do so. You can convert the final BAS to draft BAS using this option.

To convert final BAS to a draft:

1. Open the Reconciliations screen from the side menu > Accounting > Chart of Accounts.
   
   
   
   
2. In the list view, click More > Prepare Activity Statement (BAS).
3. On the Business Activity Statements screen, select the BAS on the grid that you want to convert and click  to select Convert to Draft. You can also access this option from the details view under the Actions menu.
   
   
   
   

4. CORE converts the status of the statement from Final to Draft and displays that on the grid.

View Reports

To view a report:

1. Open the Reconciliations screen from the side menu > Accounting > Chart of Accounts.
   
   
2. In the list view, click More > Prepare Activity Statement (BAS).
3. On the Business Activity Statements screen, click More > View Reports.
   
   
   
   
4. Select a report from the Report List dialog. It opens in the viewer.
5. Preview the report and then choose to export or print it.

You can also check the detailed video on running and managing reports in CORE.

Mark Screen as Favorite

You can mark or flag the most-often used and important screens in CORE as your favorites up to a maximum of ten. These favorite screens then display separately on the side menu under the Favorites list. You can manage all your favorite screens in CORE from User Settings.

To mark this screen as your favorite, watch this video or follow these steps:

1. Open the Reconciliations screen from the side menu > Accounting > Chart of Accounts.
   
   
2. In the list view, click More > Prepare Activity Statement (BAS).
3. On the Business Activity Statements screen, click  on the top-right.
   
   
   
   
4. You can access this screen from the side menu under Favorites.

You can also check the detailed video on marking screens as favorite in CORE.