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Newtothis02
September 12, 2024
Question

Adding Monthly IAS to existing quarterly BAS

  • September 12, 2024
  • 1 reply
  • 0 views

In our QBO, we are already lodging quarterly PAYG via quarterly BAS

We predict our PAYG liability will be increasing, and ATO will expect us to also lodge monthly IAS.

How do setup and add/enable Monthly IAS (in addition to the quarterly BAS) ?

Thank you in advance

1 reply

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IntuitSheila
September 12, 2024

Hi Newtothis02,

 

Let me guide you on how you can enable monthly IAS in your QuickBooks Online account. Here's how:

 

  1. Click on the GST tab in QBO.
  2. Click on Tax Settings.
  3. Select Company income tax (PAYG Instalments).
  4. Set reporting frequency to Monthly.
  5. Click on Save.

When PAYG monthly reporting is enabled, the first two months of each quarter will show you a Prepare IAS button to lodge. After you've lodged the monthly IAS for the first two months, the Prepare BAS option will show for the quarter.

 

For reference check this link about: Report PAYG Withholding on BAS and IAS. 

 

Drop by again in the Community if you have further questions about QuickBooks Online. I'm around to help.

    N
    Newtothis02Author
    December 20, 2024

    So after we Select Company income tax (PAYG Instalments)., and Set reporting frequency to Monthly.

     

    Does QBO will automatically 'link' to the ATO, and once the monthly IAS are submitted in QBO, the submission will "feed" directly to the ATO?

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