FreshBAS

This program downloads your accounting data from FreshBooks for the last financial quarter, and prints out a table of values which you can easily enter into your BAS worksheet, e.g.:

BAS WORKSHEET

 G1: $  48000
G10: $      0
G11: $  22496
G14: $    494

 T1: $  23140

Disclaimer: I'm not an accountant, and I can't guarantee that this program will give you valid data!

Instructions

Prerequisites:

Python 3
refreshbooks package (pip install refreshbooks)

Setup:

Copy config.json.example to confg.json, and fill in your FreshBooks username and token.

Running:

python3 run.py This will report on the last quarter that ended before today's date.

python3 run.py -i Run in interactive mode, allowing you to specify which quarter you want to report on.

Assumptions

For this to work for you, the following assumptions must be true:

You calculate and report GST quarterly
You account for GST on a cash basis
You don't record any other taxes on invoices or expenses besides GST
You use the simplified depreciation rules (depreciating assets under $6500 can be written off immediately), and all expenses recorded in FreshBooks are $6500 or less.
You don't record non-deductible expenses in FreshBooks

Method of preparing BAS manually through FreshBooks

Prep: make sure all received invoices have been marked as expenses.

Reports > Tax Summary: -- make sure dates are exact (especially if an invoice has just been paid) -- make sure revenue is: Collected (Cash based)

(G1) Use Gross Collected (1A) Use G1 / 11 (1B) Use tax on expenses

Expenses: go to Reports > Profit and loss -- change expenses to "Include Sales Tax" -- make sure it's cash based

(G11) Use total expenses

Simple depreciation rules mean capital purchases under $1000 can go under non-capital purchases (G11)

PAYG income = (G1) - (1A) - (G11) + (1B)

If it's negative, just enter 0. You might record it to offset the next quarter's income, but if it's the final quarter don't worry—it'll be adjusted for in the income tax