Simpler BAS Reporting is not far away…
In our recent blog “ATO announces simpler BAS reporting for Small Business†we discussed how the ATO” introduction on 1 July 2017, of simplified BAS would make it considerably easier for small business to manage their returns.
Basically, the reporting requirement for BAS has been simplified so that businesses only have to report the following GST information:
- GST on sales (1A)
- GST on purchases (1B)
- Total sales (G1)
While the deadline for commencing with the new Simpler BAS reports is 1 July 2017, which is the start of the 2017/18 financial year, you don’t have to submit your first report until the 28th October.
The current version of Cashflow Manager (Version 10) provides you all the information you need to submit Simpler BAS. However, we will be releasing a brand-new Cashflow Manager Version 11 in August which will contain several exciting new features and will provide BAS reporting specific to the ATO’S new Simpler BAS format.
Make sure your CARE subscription is current, so that when the new version is released it will automatically be sent to you.
Comments (6)
How easy would it be to convert to cashflow cloud? Also with my business I don’t do invoicing would I have to pay for that module?
Hi Holly,
thanks for your question. Currently, Cashflow Manager Cloud is a completely separate program to the desktop version and will not link or transfer data between the programs. This is something we are working on improving. The Cloud program is the standard program only and does not include Suppliers, Inventory or Wages. The cloud subscription includes invoicing as part of the subscription so it would not be a seperate module.
More information is available through this link.
Hope this helps!
Kind Regards,
Rebecca
I hope you will have included changes that reflect the 15% backpacker tax.
We are farmers that employ 80% backpackers and it is very time consuming having to change the tax percentage when the Wages program finishes calculating the tax to be paid.
Please change it.
Hi Sue, In version 10.5 that has just been released we have added a separate tax scale for Holiday makers. If you are a current CARE member you will be able to download the new version. Hope this helps you out!
Kind Regards,
Rebecca
Thanks, l have been using Cashflow for 17 years and it just keeps on getting easier and easier to comply with the ATO’s regulations. I am a registered BAS agent and Cashflow is a gem to work with.
Hi Angelica, Thank you for your comment and we are glad you have found Cashflow Manager so easy to work with!
Kind Regards,
Rebecca