RetailBasics BAS Preparation Software Simplifies GST Return Preparation

Gathering and entering all of the data you need to prepare your quarterly activity statements - receipts, invoices, pay slips, bank statements - can be a time consuming drag on your productivity, but thanks to RetailBasics up-to-date knowledge of all aspects of your business's financial transactions, your Business Activity Statement is ready to go right on time, every time.

Check out the video to discover how RetailBasics can take the pain out of GST and PAYG reporting for Business Activity Statements

Single, easy-to-understand BAS summary

The RetailBasics BAS Summary form is presented with labels that match the ATO BAS input labels, so there's no guesswork involved when it comes to transposing figures. And so you have full visibility of how the values for each label were arrived at, RetailBasics BAS preparation software spells out the individual transactions that make up a summary, along with running balances.

Data automatically collated from multiple sources

The BAS summary calculates label totals automatically based on data that you supply as you go about your day to day business activities. Earnings from your end-of-day trading entries (including data collected from your integrated cloud POS systems) or created through bank transaction matching, expenses recorded on the day or created by bank transaction match rules, expenses associated with supplier invoices, wages and withholdings associated with pay period summaries. RetailBasics pulls everything together for your GST and PAYG returns at the click of a button.

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BAS Preparation Features FAQ

Can I setup multiple pay rates and penalties?

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The retail business management system you choose must be able to handle multiple rates of pay for your staff, reflecting casual staff loadings, overtime rates, and penalty rates for weekends and public holidays. RetailBasics lets you define up to four different hourly rates for each of your employees, which you can assign to their rostered hours or apply when submitting trading day data.

Will RetailBasics take care of tax and superannuation deductions for me?

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Certainly! RetailBasics accurately calculates and withholds taxes, and keeps track of accrued superannuation owing so that you can report the correct super payments to your employees' various super funds, or your super payment service. And when it's time to reconcile super and tax paid, RetailBasics will recognise both and create the necessary accounting records automatically.

Will my employees receive their pay slips for each pay period?

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Absolutely! When you are ready to do a pay run at the end of each pay period, RetailBasics will generate the appropriate pay period summary for each of your employees, detailing total earnings, hours worked at each hourly rate, leave taken of all types, tax withheld and superannuation contributions to be made on their behalf. All of this will be wrapped up into an easy-to-understand pay summary PDF and emailed to each employee automatically.

Can I track staff attendance and leave absences with RetailBasics?

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Where most retail management systems, accounting software solutions and even dedicated payroll systems will expect you to backfill hours worked at various rates and absences recorded at the end of each pay period, RetailBasics is capturing this data every day in the normal course of running your business. Every time you create a trading day record at one of your retail outlets in RetailBasics, rostered hours for each employee are added automatically. You can choose to accept these, or alter them to reflect actual hours worked if needed.

How does RetailBasics handle employee leaves of absence, such as sick leave, annual leave, personal leave and others?

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RetailBasics is armed with all relevant Federal and State leave obligations and accrual rules, meaning you can be sure that all employee entitlements to various types of leave are taken into account when calculating accrued leave and balances. The payslips generated at the end of each pay period reflect leave accrued to date for the current financial year, leave used to date for the year and any take for the period, and balances available for each leave type. And you'll be able to see all of this detail in the payroll reports, which can be filtered by employee, leave type, date period, or any combination of other criteria as well.

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