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Multicurrency and GST reporting

Nicole_7100137

I am using Reckon Accounts Multicurrency 2014. We invoice some Australian companies in foreign currencies ie. Euro, CAD, US, etc. When creating the invoice GST is applied (even though invoice in Euro for eg.) as it is a GST supply. When generating Tax Detail Report and comparing it to the GST account on Balance Sheet, the amounts of GST from the Foreign currency invoices are different in each report! When you drill down to the transaction from both of these reports you go to the same invoice! I cannot reconcile my BAS to the Balance sheet due to these discrepancies. Any assistance would be appreciated.

Comments

Mirko

Hey Nicole, this question is bordering on Tax/Financial advice which due to certain legislation we are not allowed to provide. It would be best to contact a Tax professional or one of our Accredited Partners who are Tax Professionals that specialise in Reckon Products.