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How to prepare a BAS in Xero?

1. Ensure all bank accounts are reconciled.

2. Review the Detailed Account Transactions Report to ensure GST has been processed correctly.

3.  Obtain PAYG Income Tax Instalment (PAYGI) amount (if applicable) from ATO Business Portal 

4.  Run the Activity Statement report for the correct period

5.  Manually enter the PAYGI amount

6.  Reconcile the Wages to the Profit and Loss and the net GST and PAYG Withholding on the Activity Statement to the relevant accounts on the Balance Sheet

7.  Publish the Activity Statement

8.  Run the Razor Tool http://smarterbusinesssoftware.com.au/razor/ and publish the bill

9. Lock the period in Xero

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