Accounting for GST in your business

As a GST-registered business, you need to issue tax invoices to your customers, collect GST and send it to us with your business activity statement (BAS). There are a few ways you can make this easier to manage:

  • use business accounting software to produce tax invoices and automatically generate reports of your GST liabilities and credits at BAS time
  • put the GST you collect in a separate bank account
  • take advantage of the 'cash accounting' option to better align your GST liabilities with your business cash flow.

Follow the links below for more information about:

Choosing an accounting method

Keeping accurate GST records

Paying GST and your cash flow

Last modified: 16 Jun 2015QC 22437