Tax Payable on Balance Sheet


Comments
-
Hi Norma,
Welcome to the Reckon Community.
If you set the date range to all, does the Tax Payable account appear?
Do you have a Tax Payable account and amount on a Balance Sheet Detail Rep
Let me know.
regards,
John0 -
Hi John
Set the date range to All and the Tax Payable account appears with only the two general journal entries showing a balance of -$10639
This is the same for the Balance Sheet Detailed Report
Is there a tick box in the set up which can include/exclude an account from appearing on the balance sheet??
Many thanks
Norma
0 -
Thanks Norma,
A few more questions:
Go to your Supplier Centre and right-click the Australian Taxation Office and select Edit.
Is the box Supplier is a Tax Agency ticked?
Click on the Tax Agency Info tab - what is the account in the last two boxes for tracking Tax?
regards,
John
0 -
HI John
Yes the Tax Agency box is ticked and the tracking tax boxes are 2-5500 Tax Payable account for sales and purchases.
Cheers, Norma
0 -
Thanks Norma,
and you have transactions that have included Tax codes?
You'd best resort your lists, rebuild and verify your file. Repeat rebuild and verify until a "no errors found" message is received. A guide is available at
https://community.reckon.com.au/reckon/topics/rebuilding_a_datafile_in_accounts_business
Hope this resolves your issue.
regards,
John
0 -
Hi John
Yes I have transactions that include Tax Codes. The register of 2-5500 Tax Payable is correct and the Tax Reports to complete the BAS are correct and it all reconciles. The amount just does not show on the Balance Sheet.
Will let you know if the issue is resolved.
Cheers, N
0 -
Hi John
I have completed 15 verify and rebuilds and the message I receive on completion is - Rebuild has completed. The Tax Payable amount still does not show on the Balance Sheet.
Any other suggestions
Cheers, N
0 -
Hi Norma
When you run the Balance Sheet, Does it say "Cash Basis". If so, Change the reporting preferences in Edit > Preferences > Reports & Graphs > Company Preferences as follows:
Default Reporting = Accrual and Net. (irrespective of whether Cash or Accrual GST)
The behaviour you describe is consistent with a Cash setting and no Cash transactions to report yet.
Graham Boast
Reckon Accredited Partner
graham@reckonhelp.com.au
Graham Boast | 0409 317366 | graham@reckonhelp.com.au
2 -
Many thanks Graham
The report basis was Accrual and gross - changing it to net has included the Tax Payable on the Balance Sheet. Hooray!!
I will sleep better tonight
Cheers, N
1 -
Graham,
Thank God for you!
You have saved my life!
The pressure was on and I have found this post get the Tax Payable to pull through to the Balance Sheet!
A million times thank you :-)))
1