Add BAS report boxes and generate the Australia Business Activity Statement BAS

This article describes how to add BAS report boxes and generate the BAS in Australia with Microsoft Dynamics 365 Finance.

The following procedures walk you through how to add business activity statements (BAS) report boxes and generate the BAS in Australia. The procedures were created using the demo data company 'USMF' with a primary legal entity address in Australia.

Prerequisites

Before you can execute the following procedures, you must define the additional BAS reconciliation account, create BAS PAYG reason codes, create BAS fringe benefit reason codes, create sales tax reporting codes, and create withholding tax groups with required purchase and sales transactions.

Add BAS report boxes and print the Australia BAS

To add BAS report boxes and print the Australia BAS, follow these steps.

1. In Dynamics 365 Finance, go to Tax > Declarations > Sales tax > Additional BAS report boxes.
2. Select New.
3. In the Settlement period field, select the drop-down button to open the lookup.
4. In the list, find and select the desired record.
5. In the list, select the link in the selected row.
6. In the From date field, enter a date.
7. In the To date field, enter a date.
8. In the Document identification number field, enter the activity statement unique document identification number.
9. Select the Cover page tab.
10. In the 7 Deferred installment field, enter a number.
11. In the 7A Deferred GST on imports field, enter a number.
12. In the 1G Credit for wholesale sales tax field, enter a number.
13. In the 5B Credit from PAYG field, enter a number.
14. In the 6B Credit fringe benefits tax field, enter a number.
15. Select the Back cover page tab.
16. In the W1 Total payroll field, enter a number for total salary, wages and other payments.
17. In the W-2 Withheld from payroll field, enter a number for the total amount you withheld from salaries, wages, and other payments. This value includes payments to contractors under a voluntary agreement shown in box W1.
18. In the W3 Withheld from investment where no TFN field, enter a number. The W3 value covers other types of withholding such as interest, dividends, unit trust, or other investment distributions provided with a TFN (includes a nonresident), and any payments made to foreign residents.
19. In the W4 Withheld from invoices where no ABN field, enter the total amount you withheld from payments to suppliers who didn't quote their ABN.
20. In the T1 Installment income field, calculate your installment income for the quarter and enter that number.
21. In the T2 Installment rate field, enter a number representing the T2 Installment rate. The rate is either the installment rate determined by the Australian Taxation Office, or the most recent varied rate if you varied the installment rate in a previous quarter in the same income year.
22. In the T3 New varied installment rate field, enter a number if you want to vary your installment rate.
23. In the T4 Reason for variation field, select the drop-down button to open the lookup. If you vary your installment rate, select a reason from the list that best describes why and then enter the appropriate code.
24. In the list, select the link in the selected row.
25. In the F1 ATO fringe benefit field, enter a number. If you pay fringe benefits tax (FBT) quarterly, a predetermined installment value is shown.
26. In the F2 Estimated total fringe benefits field, enter a number that represents the estimated total FBT liability for the year.
27. In the F3 Varied fringe benefits tax field, enter a number that represents the amount of the varied FBT installment.
28. In the F4 Reason for variation field, select the drop-down button to open the lookup. If the FBT installment amount has been varied, select the reason, and then enter the corresponding code.
29. In the list, select the link in the selected row.
30. In the 7C Fuel tax credit over claim field, enter a number that represents any adjustments to fuel tax credits that decrease your entitlement.
31. In the 7D Fuel tax credit field, enter a number that represents the amount of fuel tax credits that can be claimed depends on your business activities. For example, business activities might include acquiring, manufacturing, or importing taxable fuel into Australia, or when you use the fuel you manufactured. Enter any adjustments or corrections that increase your entitlements to fuel tax credits.
32. On the Action Pane, select the Action Pane tab.
33. Select Additional BAS report boxes > Print Australian BAS.
34. Validate the Australian BAS report.

Generate the Australian BAS

To generate the Australian BAS, follow these steps.

1. In Dynamics 365 Finance, go to Tax > Declarations > Sales tax > Australian BAS.
2. In the Settlement period field, select the drop-down button to open the lookup.
3. In the list, find and select the desired record.
4. In the list, select the link in the selected row.
5. In the From date field, enter a date value.
6. In the Transaction date field, enter a date value.
7. Select or clear the Post and settle GST checkbox.
8. Select OK.