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At present the standard BAS reports generated from 365 Finance and Operations do not provide the user with clear and concise documentation to support the Business Activity Statement as lodged. In order to produce a satisfactory report, the user is required to export data and use an external program such as Excel to edit and format reports to support the Business Activity Statement. This manual work around is inefficient, labour intensive and tedious. The user is required to sort the GST into payable and receivable. The user is also required to create formulas to calculate totals each GST direction. This report will be used by over 163 finance personal of differing abilities and must be a standardised. The current 365 Finance and Operations solution is open to error and miscalculation that could lead to harsh penalties. Auto Population of BAS Boxes The out of the box system only fully supports one type of the Australian taxes (the GST) however other Australian taxation obligations are only partially supported or not supported at all. PAYG, FBT, Fuel credits are among the taxes which Australian companies are obliged to report to Tax Authorities. Manual tax calculations must be performed in external tools, such as Microsoft Excel, which are a labour intensive and error prone and often lead to tax penalties. https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/In-detail/Instructions/FBT---how-to-complete-your-activity-statement-labels/#F1ATOinstalmentamount The user is required to manually look up the Withholding Tax by generating a report separate to the BAS. The user must then manually transfer this figure to the W4 box on the BAS statement. It is a requirement that organisation report withholding tax. https://www.ato.gov.au/business/payg-withholding/paying-and-reporting-withheld-amounts/ The user is required to manually look up the PAYG and Total Payroll by generating a report separate to the BAS. The user must then manually transfer this figure to the W1 and W2 boxes respectively on the BAS statement. It would be a far more efficient solution to have this figure automatically populated. The manual transfer of data is open to error. There will be several hundred staff over 163 schools that will need to do this process, some of which do not have the required knowledge to confidentially complete a Business Activity Statement manually. The room for error is high and as such could result in invalid tax reporting which could result in high penalties. Once the BAS is completed and posted, the user is still required to manually journal. Collectively the additional time required to process and submit the BAS and clear out postings is significant.

Category: Tax
STATUS DETAILS
Needs Votes
Ideas Administrator

Thank you for your feedback.

Currently this is not in our roadmap; however, we are tracking it and if we get more feedback and votes, we may consider it in the future.

Sincerely,

PM, Anastasia Yashenina

Microsoft.