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Sample journals – payment or refund of BAS

The following example illustrates recording of your BAS payment to the ATO, or, alternately, receipt of a refund from the ATO.

In the example shown in Sample Journals – BAS Returns our sample Fund owed the ATO $915.96. This would have been rounded, on your BAS return, to $916.

To enter the payment (and the rounding), create the following Journal:

Note that the 4c rounding amount has been allocated to 5-1190 Overs and Unders.