GST Reconciliation report

The GST Reconciliation report compares GST on activity statements you've published against GST on sales and purchases, and against your GST account balance. It shows any unfiled amounts not captured in a published activity statement in Xero, and filed amounts you haven't settled with the ATO.

Run this report before you complete an activity statement to check for unfiled and unpaid amounts. Run it again at the end of the financial year to reconcile the GST account balance in your Balance Sheet.

Simpler BAS and the GST Reconciliation report

  • The GST Reconcilation report uses the period and basis set in the Financial Settings screen rather than those from Simpler BAS. If you use Simpler BAS, check Financial Settings matches the settings you use for your activity statement.
  • You need to copy the GST on sales and purchases amounts from your finalised activity statements in to the Filed column of the report. The GST Reconciliation report won't draw this information from your finalised activity statements.
  • We recommend you save or publish your GST Reconciliation report to retain the information you enter in the Filed column. You can copy and edit a published report to create a new draft next time you want to reconcile your GST.

Run the GST Reconciliation report

Xero creates the report on the accruals or cash basis for the default period, according to the options selected in Financial Settings.

  1. In the Reports menu, select All Reports.
  2. Under the Tax heading, click GST Reconciliation.
  3. (Optional) Change the From or To date, then click Update. Xero determines the GST periods on this report from the From date chosen here and the GST Calculation option in your Activity statement settings.

    We recommend selecting a From date that gives opening balances of 0 on your report. See the worked examples for further details.

  4. (Optional) Click Add Summary to add a note to the report.
  5. Review each section of the report
  6. Click Publish.

Review sections of the GST Reconciliation report

GST Collected and GST Paid

GST Account Transactions

GST Owing

GST Account Summary (accruals basis)

GST Account Summary (cash basis)

GST Collected and GST Paid

Review these sections to see if you have any unfiled amounts to include on your next BAS.

Figures manually entered in the Adjustments and Filed fields are not saved on the report.

GST Collected

Image showing GST collected section of report.

  • Opening Balance – The amount of GST collected but not included in a published activity statement before the From date of this report.
  • GST Collected – Total GST collected on transactions dated in the period where the tax rate has a tax type of 'Sales', for example the tax rate 'GST on Income'.
  • Adjustments – The figure for sales adjustments entered in G7 on your published GST Calculation Worksheet. If you haven't published your activity statement for the period, or if you use the Simpler BAS reporting method, this field will be blank.
  • Filed – The GST on sales figure from G9 on your published GST Calculation Worksheet. If you haven't published your activity statement for the period, or if you use the Simpler BAS reporting method, this field will be blank. In the latter case, copy in the amount from your BAS.
  • Unfiled – A running total of opening unfiled GST collected + GST collected for all periods in the report - filed GST collected.

GST Paid

Image showing GST paid section of report.

  • Opening Balance – The amount of GST paid but not included in a published activity statement before the From date of this report.
  • GST Paid – Total GST paid on purchases and expenses dated in the period where the tax rate has a tax type of 'Purchases, for example the tax rate 'GST on Expenses'.
  • GST on Imports – GST on transactions dated in the period where the tax rate is GST on Imports or GST on Capital Imports. This amount is included in the GST Paid amount on this reconciliation.
  • Adjustments – The figure for purchases adjustments entered in G18 of your published GST Calculation Worksheet. If you haven't published your activity statement for the period, or if you use the Simpler BAS reporting method, this field will be blank.
  • Filed – The GST on purchases figure from G20 on your published GST Calculation Worksheet. If you haven't published your activity statement for the period, or if you use the Simpler BAS reporting method, this field will be blank. In the latter case, copy in the amount from your BAS.
  • Unfiled – A running total of opening unfiled GST paid + GST paid for all periods in the report - filed GST paid.

GST Account Transactions

Image showing GST account transactions.

Review transactions you've coded directly to your GST account for the report period. If you're using Xero's default chart of accounts, the GST account is 820 – GST.

Transactions you might see in this section:

  • Your GST conversion balance
  • A trial balance adjustment (if you entered comparative balances with your conversion balance)
  • Import purchases using the tax rates 'GST on Imports' and 'GST on Capital Imports'
  • GST payments to, and refunds from the ATO
  • Manual journals and transaction lines coded to the GST account

GST Owing

Image showing GST owing for period.

Review the GST amounts you've included in your published activity statements compared to GST paid to, or refunded from the ATO in the GST account. The closing balance shows GST payable to, or refundable from the ATO for the period.

  • Opening Balance - The sum of all Filed amounts for periods before the From date of the report.
  • GST Collected and Filed – Total of the Filed column in the GST Collected section of this report.
  • GST Paid and Filed – Total of the Filed column in the GST Paid section of this report.
  • Payments Made – The total of the GST Account Transactions section less the total GST on Imports in the GST Paid section.

GST Account Summary (accruals basis)

Image showing GST account summary.

If your organisation uses the accruals basis for GST, the GST Account Summary breaks down GST outstanding on the accruals basis at the To date of the reconciliation. The GST Account Summary balance should match your GST Account Balance.

  • GST Owing – The net value of GST filed amounts not yet paid to or refunded from the ATO, displayed in the GST Owing section of the report.
  • Unfiled GST – The net value of unfiled GST totals in the GST Collected and GST Paid section of the report.

GST Account Summary (cash basis)

Image showing GST account summary on cash basis.

If your organisation uses the cash basis for GST, the GST Account Summary breaks down GST outstanding at the end of the reconciliation period so you can reconcile it to the accruals-basis GST Account Balance. The GST Account Summary balance should match the the GST Account Balance.

  • GST Owing – The net value of GST filed amounts not yet paid to or refunded from the ATO, displayed in the GST Owing section of the report.
  • GST in Accounts Receivable – The GST component of approved invoices awaiting payment at the To date of this report.

    View a breakdown of this figure on the Aged Receivables Summary report run as at the To date of the GST Reconciliation report. In Report Settings, select Outstanding GST.

  • GST in Accounts Payable – The GST component of approved bills awaiting payment at the To date of this report.

    View a breakdown of this figure on the Aged Payables Summary report run as at the To date of the GST Reconciliation report. In Report Settings, select Outstanding GST.

  • GST in expense claims – The GST component of approved expense claims waiting to be paid at the To date of this report.

    View a breakdown of this figure on the Aged Payables Summary report.

  • Unfiled GST – The net value of unfiled GST totals in the GST Collected and GST Paid section of the report.