Businesses registered for GST must usually lodge a business activity statement (BAS). Rounded automatically creates quarterly activity statements to assist with managing Simple BAS.
To learn more about GST and GST registration, click HERE.
To learn more about simple BAS, click HERE.
An Activity statement will be automatically created for any quarter where income and/or expense records that include GST are added to a Rounded account, e.g.
or
To check if GST is activated on your Rounded account, click HERE.
Navigate to the Activity Reports by clicking Reports, then Activity statements
A BAS is created when income and expenses with GST are added.
In line with ATO reporting requirements for Simple BAS, each quarterly activity statement will include
G1 (Total sales including GST)
1A GST on sales
1B GST on purchases
For more information about simple BAS, click this LINK
The BAS report cannot be exported at this time. You can take a screenshot of it whenever you need it, OR you can share your Rounded data with your accountant. Click on this LINK to learn more about sharing your Rounded data with your accountant.
Once the activity statement is lodged with the ATO, the activity statement in Rounded can be marked as complete.
How to mark an activity statement as completed
1. On the Activity statements page, click on the row that was already lodged to ATO
2. A window will open, and click Mark BAS as completed
3. Click Save
The Activity statement will now be shown as completed
Remember to download the Rounded mobile app!