We have had some Treasurers requesting information on how to balance their GST accounts to the Balance Sheet at year end so we have worked with Xero to produce a webinar on best practise for reconciling your bank accounts in Xero, how to use Bank Rules to create efficiencies, how to correctly complete and file a GST return which mitigates the risk of human error and how to do a GST Reconciliation to check that your GST account agrees with your Balance Sheet. Doing a proper reconciliation between the two is an important ledger health check.
The webinar also shows Treasurers how to access Xero Central which is a support and learning site where you can search for support articles, access courses and webinars, start a discussion with other customers, or raise a case with Xero Support.
Click on the link below to access the webinar:
Below are a list of things to check when the GST account balance in your Balance Sheet does not match with the GST return when on a Payments basis:
If you need any assistance with this, please save a draft copy of the GST Reconciliation report with the ‘Filed’ column filled out, invite Xero support into the organisation and log a ticket through Xero Central for online support.