SMSF Sorted Workpaper - GST Reconciliation
SMSF Sorted Workpaper - GST Reconciliation
This article will provide details on the functionality of SMSF Sorted's GST Reconciliation workpaper.
A fund must have reimported the Lead Schedule after the SMSF Sorted 2.6 release (22 May 2021) for the Workpapers to be active.
For funds loaded after this date, Workpapers will automatically be available.
The GST Reconciliation Workpaper is accessed via the Statement of Financial Position on the GST Payable/Refundable line
Clicking on the
icon will open the Workpaper.
If you are opening Workpapers for the fund for the first time, you will receive a message to Generate the Workpapers.
Click the Generate Workpapers button to continue.
After a brief moment, the Workpapers will generate and appear.
This fund in the example above has not yet completed processing for the year, however, we can see that applicable data has been imported and calculations are run based on the available data.
Once all the relevant processing has been completed in the administration software, simply reimport the Lead Schedule to refresh the GST Reconciliation Workpaper.
Under the section "
GST as per ICA/BAS" the administrator is able to manually enter quarterly GST as per the Integrated Client Account or from the BAS, toggling whether the amount was payable or claimable.
GST Adjustments from prior years can also be entered at field "F".
Related Articles
SMSF Sorted Workpapers
Introduction With the release of SMSF Sorted 2.5, Cloudoffis has introduced workpapers to support the preparation of the Financial Statements. This article will outline how to access this feature, and what workpapers are available. What are the ...SMSF Sorted Workpaper - Tax Reconciliation
SMSF Sorted Workpaper - Tax Reconciliation This article will provide details on the functionality of SMSF Sorted's Tax Reconciliation Workpaper. A fund must have reimported the Lead Schedule after the SMSF Sorted 2.6 release (22 May 2021) for the ...SMSF Sorted Release 2.5
Release Contents New in SMSF Sorted 2.5 We have introduced an exciting new financial workpapers feature to SMSF Sorted. As part of this initial release, workpapers will be available for Property, GST reconciliation, and Tax reconciliation These will ...SMSF Sorted Workpaper - Property & Rental Schedule
SMSF Sorted Workpaper - Property & Rental Schedule This article will provide details on the functionality of SMSF Sorted's Property Workpaper A fund must have reimported the Lead Schedule after the SMSF Sorted 2.6 release (22 May 2021) for the ...SMSF Sorted Workpaper - Contributions
SMSF Sorted Workpaper - Contributions This article will provide details on the functionality of SMSF Sorted's Contributions Workpaper. A fund must have reimported the Lead Schedule after the SMSF Sorted 2.6 release (22 May 2021) for the Workpapers to ...