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Okay boys welcome to manage finances boys and girls I'm sorry we're going to do a completing a bass statement within Australia, and I'm going to do it really simply so that couples and builders can just get a feel for it okay firstly you're going to have cash received for the first quarter with a total of forty-eight thousand two hundred fifty-nine thirty so remember that figure yep then we also have our cash payments if you total up the materials' vehicle tool for miscellaneous items as you can see there you'll get a total of four thousand six hundred eighty-six nice and simple, so cash received cash payments those two total due, but now we need to know how much GST is to do that we divide that by 11 so for the cash received will get 4387 and 21 cents remember you don't need the cents for the best thing cash payments will get four hundred and twenty-six and five cents nice and simple okay now if we go on what we want to do is to fill out our bus spot best thing we need to know those two figures ok 4387 the 426 okay here's an example sample only okay you'll have those items completed by the ATO they'll send it to you with your name and your Builder company you'll also need to fill out on the right-hand side of how much money you've earned, so that was 48 thousand two hundred and fifty-nine, so that's for calculating the GST quarterly and report annually does that include GST yes a little tick there on the bottom or on the left-hand side okay that's the front page of your bus turn it over to the next side or the next page and keep in mind because we're just going to just nice and simply just so carpenters can understand we're not going to fill out any of these complicated accounting bookkeeping items just get a simple understanding so in this summary section okay you can see that highlighted there we are going to complete and then you oh the ATO so for GST on sales is 4387 on the right-hand side that's the amount of the 8000s you 426 okay now calculate those and put those to the bottom you can see on the boxes you know four three eight seven four two six just following 180 plus four whatever it says for the actual sample page or the page yourself then we're going to find out if we need a payment or refund as much as we want a refund it doesn't always happen so is 8 a more than 8 B that's a yes so where the taxman or the ATO the GST your payment or refund amount will be three thousand nine hundred and sixty-one that's how much we need to pay complete the remainder of the bottom of that box signature and date write down how long it's taken maybe half an hour 20 minutes, and then you have completed the best statement accurately well done thanks guys see you next time
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