Complete your GST Reconciliation report after registering for GST

Complete your GST Reconciliation, for the first reporting period after registering your organisation for GST.

Before you start, learn how Xero builds the GST Reconciliation report, and where the figures come from.

If your organisation has moved to Xero from another accounting system, and you have a GST amount in your conversion balances, follow the process for completing the GST Reconciliation report with a conversion balance instead.

Complete your first Business Activity Statement in Xero

Complete your Business Activity Statement, or Simpler Business Activity Statement, for your first GST period. Ensure your BAS reporting dates in Xero are the same as the BAS dates the ATO has given you.

Run your GST Reconciliation report for your first GST period

After you complete your first BAS in Xero, run your GST Reconciliation report for the same period as your BAS.

  1. In the Reports menu, select All Reports.
  2. Under the Tax heading, click GST Reconciliation.
  3. Enter the From day as the first day of the BAS reporting period.
  4. Enter the To date as last day of the BAS reporting period.
  5. Click Update.
The amounts on the BAS return are rounded down to whole dollars. This may cause a small difference between GST calculated and GST filed. This will show as Unfiled GST.

On the report, check the:

  • Opening balances on the report are 0.00. If they are not 0.00, check for transactions with GST that have dates before your GST registration date. Ask your adviser what you should do if you recorded transactions with GST that are dated before your GST registration date.
  • Filed amounts for GST Collected and GST Paid match the GST on Sales (Box 1A) and the GST on Purchases (Box 1B) amounts from your finalised BAS. If you use Simpler BAS, you'll need to manually enter the amounts into the Filed boxes.
  • GST Account Transactions are correct.
  • GST Owing closing balance matches the GST to pay or refund on your BAS.
  • GST Account Summary balance and the GST Account Balance match
  • Unfiled GST amount - should only be the total of the cents rounding.

Image from GST Reconciliation report.

Image from GST Reconconciliation report.

When you've confirmed your GST Reconciliation report is correct, publish it.

Complete your second Business Activity Statement in Xero

Following the end of your second GST quarter, run your Business Activity Statement and publish it, or your Simpler Business Activity Statement and finalise it.

Run your second GST Reconciliation report

When you've completed your second BAS, run your GST Reconciliation report to the end of the reporting period, keep the same From date as first day of you first GST Reconciliation.

Check the:

  • Filed amounts for GST Collected and GST Paid match the GST on Sales (Box 1A) and the GST on Purchases (Box 1B) amounts from your finalised BAS for this period. If you use Simpler BAS, you'll need to manually enter the amounts into the Filed boxes.
  • GST Account Transactions are correct. The GST payment or refund for your previous BAS will show in this section.
  • GST Owing closing balance matches the GST to pay or refund on your current BAS.
  • GST Account Summary balance and the GST Account Balance match.
  • Unfiled GST amount - should only be the total of the cents rounding.

(Recommended) When you've confirmed your GST Reconciliation report is correct, publish it.

After you publish each future BAS, update and publish your GST Reconciliation report. Keep the same From date and change the To date to the end date of your last published BAS.