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.

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.

Example scenario

  • 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.

  1. Complete your first BAS in Xero
  2. Run your first GST Reconciliation report
  3. Complete your second BAS in Xero
  4. Run your second GST Reconciliation report