Complete your GST Reconciliation report after you start with GST
Learn how to complete your GST Reconciliation when you're a new organisation, or you've recently registered for GST after using Xero for a while. We'll use an example to show how it works.
Before you start, learn how Xero builds the GST Reconciliation report, and where the figures come from.
- You start a new business on 1 August 2015. You use Xero from that date.
- You are registered for GST with the ATO on the accruals basis.
- Your organisation lodges a BAS every quarter. Your first BAS will be for the quarter ended 30 September 2015.
Follow these 4 steps to understand how the reconciliation works.
- Complete your first BAS in Xero
- Run your first GST Reconciliation report
- Complete your second BAS in Xero
- Run your second GST Reconciliation report