Something is wrong with my Jim2 GST Session. Help!
Tags: Support   Accounting   GST   BAS   Customers   Jim2  
23/04/2019 9:18 AM

When completing your business activity statement, if a figure doesn’t match in the Jim2 GST Session worksheet, it’s more than likely that an incorrect tax code has been applied to a journal entry, purchase order or job along the way.

How do I identify figures?

These figures can be identified in the Worksheet tab and the By Tax tab.

The Worksheet tab shows the results of the selected transactions.

The By Tax tab on the GST session shows both the tax code used, and where it reports on the Worksheet.

How do I know what’s incorrect?

A great place to start is with a list of tax codes in Jim2 and their worksheet destination. This is found in the Jim2 ribbon at Tools > Setups > Accounting > Tax Codes.

By reviewing the tax codes used with the worksheet, you can identify any tax code errors and incorrect figures, as the tax code table (in the By Tax tab) shows you where figures are allocated in the GST session.

Most Common Discrepancies

The most common mistake made with Tax Codes:

  • When to use tax codes N and X. N is used when there is no GST but the transaction is reportable, eg. buying coffee, sugar and milk; and X is no GST and no treportable, eg. transferring funds between bank accounts, and paying the ATO.
  • If you don’t have any overseas customers, there should be nothing reporting into G2.
  • If you don’t sell anything GST free (or have any other reportable income not subject to GST), then G3 should also be zero.
  • Tax codes P and Q should only be used when recording payroll General Journals.
  • If the W2 box shows a negative or smaller than expected figure, it’s likely that you have used tax code Q when recording a payment to the ATO. Using Q on a payment reduces the figure that will appear in W2, so always check the balance agrees with your payroll reports before you lodge your IAS or BAS.

How do I fix it?

Your changes need to be made on the original transaction, as corrections can’t be made in Jim2 GST Sessions. In cases where the original transaction cannot be changed (such as a PO), you can add a general journal to make corrections.

Learn more about fixing different scenarios by visiting Jim2 Online Help.

More information

Learn more about the Jim2 GST Session and the BAS.

The Worksheet tab.

For more in-depth information, visit our other blog

Our support team is also available to suggest ways to rectify discrepancies in the GST Session at 02 9570 4696 or via email.

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