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In this window, you review the BAS codes used for business activity statement (BAS) reporting, modify or remove BAS codes, or add new ones.

To open this window, choose   Administration   Setup   Financials   Tax   BAS Code Definitions  .

BAS Code Definitions Window
Code

Code of the tax category to be used in business activity statement reporting.
Name

Description of the tax category to be used in business activity statement reporting.
Type

Indicates how tax is calculated.

  • VAT Group: Use this type to report, group, and filter transactions by goods and services tax (GST) codes in Australia, or by tax codes for value added tax (VAT) in Czech Republic, Netherlands, Portugal, and Slovakia. You can combine tax groups and/or constants in a formula using mathematical operations.

    If you include a tax group of type Acquisition/Reverse in the formula, you can define the Acquisition/Reverse Tax Type of the tax group to report only the input tax part (debit side), the output tax part (credit side), or both the input and output tax parts (both debit and credit sides) of the transactions. To do so, double-click the BAS code row to define the details.

  • Account: Use this type to report, group, and filter transactions by G/L accounts. You can assign each account to only one BAS code. This means, after you select an account for a BAS code, it is not displayed for another code selection. We recommend that you select the Display only accts with postings checkbox in the Select accounts for group: <group name> window to filter unused accounts.

  • Manual Input: Use this type if you want to manually enter an amount or a percentage rate, for example, as an adjustment to a BAS code, in the BAS Report – Generation window.

    If you enter a percentage rate, you can use decimals. However, if you enter an amount as an adjustment to a particular BAS code, you can use decimals only if they are allowed for this BAS code.

  • Formula: Use this type if you want to combine the existing BAS codes and/or constants in a formula using mathematical operations.

    When you include BAS codes in a formula, use brackets ”[]” as placeholders for each BAS code.

    Note Note

    You cannot include a BAS code of type Single Choice in a formula.

    End of the note.

    Example Example

    G1, G2, G3, G4, G5, G6, and G7 are BAS codes; S1 and S2 are tax groups.

    Among the BAS codes, G5, G6, and G7 are of type Formula.

    [G5] = [G2] + [G3] + [G4]

    [G6] = [G1] – [G5]

    [G7] = [G2] /11

    G1 is of type VAT Group.

    [G1] = [S1]+ [S2]

    End of the example.

  • Single Choice: With this type, you can provide background information or additional remarks for certain BAS codes according to legal regulations. You can specify a few legally valid options as reason codes and select only one of them for reporting purposes.

    Example Example

    1. You create the following BAS codes of type Manual Input:

      • F1: Varied fringe benefits tax installment, FBT code

      • F2: Estimated total fringe benefits tax payable, FBT code

    2. To provide background information for F1 and F2, you create a BAS code F3 of type Single Choice, as follows:

      F3: Reason for fringe benefits tax variation, FBT code

      • Reason Code 01: Benefits ceased/reduced and salary increased

      • Reason Code 02: Benefits ceased/reduced and no compensation to employees

      • Reason Code 03: Fewer employees

      • Reason Code 04: Increase in employee contribution

      • ...

    End of the example.
Summary Field

Select an option to display one of the following amounts of the tax transactions in the report:

  • Base Amount

  • Tax Amount

  • Non-Deductible Amount
Debit/Credit

Determines which parts of the transactions that are calculated are added: for example, only the debit amount, only the credit amount, or both.
Formula Syntax

Indicates the formula syntax to calculate the tax amount.
Sort Order

Indicates the position of the tax code in the BAS statement.
Absolute Value

Displays the absolute amount for the relevant tax code in the report.
Country-Specific Field: Portugal
Declaration Location

Specify the tax declaration location for each BAS code: Continent, Madeira, or Azores.

Leaving the field empty indicates that you do not declare taxes to the Portuguese tax authorities and you cannot create electronic BAS report files.

More Information

Defining BAS Codes: Australia, Czech Republic, Netherlands, Portugal and Slovakia