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Deposit not showing under supplier

Afshin

Hi, I created a deposit with "Received From" being "Australian Taxation Office" but when I open my supplier tab and look under Australian Taxation Office, I don't see that transaction. What do I do incorrectly?

Comments

John Graetz

Hi Afshin. In the first instance, if you are in the habit of getting money from the ATO then technically they should be a Customer and not a Supplier. But putting that aside, please do the following:

1, Go back to the deposit
2. To the right hand side of the Australian Taxation Office name, there is a small arrow.
3. Click on the arrow and from there you will see that type of entity you recorded the money against. It is quite likely to be "Customer" but it could be "Other Name", but obviously isn't the one that you set up for "Supplier". It is not unusual to have an entity as both a Customer and a Supplier, so in those cases it is very easy to use the wrong one. You need to go down the list until you find the ATO under the Supplier listing and then select that one, if that is the way that you want to record it. John

Afshin

Hi John, Thanks for your reply. I only have one account called ATO. I checked them again and on the right hand side it says Supplier. BTW, the arrow is disabled for exiting deposits but I checked this by creating a new line under existing deposits. I don't have more than one ATO anyway.

John Graetz

Hi Afshin. Now that you have done that, the reason (from memory) becomes much clearer. Have you ever done something like this for the ATO before? Basically I believe that the issue is this:
1. The supplier listing includes transactions for such things as bills, payments, cheques etc.
2. Deposits are not transactions which occur for a supplier and hence they are not likely to show up for this reason.
There are a number of transactions that I have seen over the years which don't show up and this can make things pretty tricky when you are trying to find something. It is my belief that the reason they don't is because they are not the types of transactions which "belong": under that module.

There is also another major issue which I think that I can now see too, from what you have said. You should never use the "Banking" / "Make Deposits" module for anything other than for transactions which have been made through "Receive Payments" or "Sales Receipts". The basic reason for this is that there is no scope to account for GST in any shape or form and therefore, if you have been using this for other receipts, you will not have been able to account for any GST in those receipts. I have seen people use this module incorrectly and create a real mess because they failed to account for any GST included.

If you use the "Sales Receipts" module for the receipt from the ATO you will have to set up the ATO as a Customer because it is not possible to use a name from any other list than a Customer:Job one. You would also have to set up an appropriate "Item" so as to nominate the general ledger account to which the transaction is to be recorded.

For "one-off" transactions, which this might be one of, you could also use a General Journal, which has the scope to account for any GST but still may not show up correctly in the suppliers record, depending on how you complete such a transaction. Hope this helps you more now. John

Afshin

Hi John, I think you are right in your first paragraph and I had similar suspicions but I was hoping I'm wrong and I can see ALL transactions related to a supplier or customer as long as their name is on the cheque or deposit or anything else. I had to use deposit and there is no GST issue related to my deposit. because the deposit is as a result of ATO settling our quarterly BAS and it's basically just a general journal in between Bank and Tax Payable account however I've read in many documents that it's better to avoid General Journal entry and use the mechanism like Deposit and Cheque when bank is involved.

[Deleted User]

If i get money from ATO I generally do it through make deposits and use the ATO Customer name and allocate to the relevant tax account. As there is no GST involved, this works fine. Good luck.

Acctd4

Hi Afshin

I agree with Kathy - A GST refund should be entered directly into Make Deposits & NOT via a Sales Receipt.

This is because it's not "taxable income" (eg sales), but instead is a refund of overpayment of a liability - in this case, GST - & therefore should NOT have a tax code. This then ensures it does not show incorrectly as "Income" at G1 on the BAS.

I can see why John thought that the name wasn't showing due to being the wrong type however, in a Deposit, you can select from any of your name lists. Remember there are sometimes occasions when you DO receive a refund from a Supplier (returned goods, account overpayments etc)

The "Australian Taxation Office" is a Tax Agency Supplier. If you check their record in your RA software, they are a default Supplier & within their info, there is an additional "Tax Agency" tab + a ticked checkbox stating "Supplier is a tax agency"

As this IS a deposit from a Supplier, I use the default "Australian Taxation Office" nam. This is the (Supplier) record where all of your other ATO-related transactions should have been recorded.

The reason the transaction isn't showing in their Supplier record is a long-term glitch in the program regarding Deposits that don't retain the Payee name.

This issue isn't specific to any particular name type (eg Customers or Suppliers), the Payee name ALWAYS drops out after entering a "Make Deposit" transaction, when viewed in the register.

The bigger issues with this glitch is - as you've discovered - you then can't see the transaction under that Supplier's record, it won't come up in "Find" when search is filtered to Payee/Name & it also won't display this name in Reports either!

SOLUTION:

To correct this, go to the transaction in the Bank Account Register (NOT in the Deposit - although you should have "Australian Taxation Office" selected as the Payee there too) & in the Payee dropdown field HERE - in the bank account register - select "Australian Taxation Office".

Make sure you click "Yes" to record your change & you will now find that this transaction is:

Listed under the "Australian Taxation Office" Supplier List transactions
Now searchable (eg will be included in custom Advanced Find searches - when filtered for "Australian Taxation Office" &
Will now show this Supplier Name on Reports too!

The majority of Deposits are related to Sales which - in most cases - definitely should NOT just be entered into "Make Deposits" as this is taxable income received for a sale or service & needs to be recorded - along with the appropriate tax code - as taxable income which can only be achieved by following the correct processes/utilising the correct forms (eg Tax Invoices & Sales Receipts)

Hope this helps .

Afshin

Hi Kathy, Thank you for your response. The problem is that I have one ATO account as supplier and I don't really want to create another account as a customer. In principal it's not right. I hope reckon fixes this problem and allow an actual money refund from a supplier. I guess the current mentality is that a company can only get credit from a supplier and not an actual payment but in reality happens and it happens in a lot of different scenarios. It would be great if the deposits would have been added to the type of transactions that are visible under supplier section.

[Deleted User]

Hi Afshin, I would use the supplier name and do it as a deposit. No harm in that but it will not show up in the supplier as deposits don't. You only need to have one name ATO. Hope that helps.

[Deleted User]

Hi Afshin, I had a deposit today to do for one of our suppliers as they returned the money from the bank (wrong account number). I did a make deposit and used the supplier as the FROM and the Accounts Payable control as the account. EFT and the amount. I then went into pay bills window and selected the amount and paid again. Hope this helps.

ARC BookKeeping

Hi Afshin,

Is it a GST refund or another tax refund?

also other advisers... Just curious again....
In the NZ version there is a 'Mange Tax' Icon on the Home page.... Is this icon on the Aussie version?

This is where I advise my clients to process their GST refunds as it links the company file tax agent (in our case IRD) to the refund....

Just Curious....

Cheers
Angie Carlyle

Trevor Watson

Yes it is Angie, that's how I do my GST refunds not that they happen often enough

BTW not an adviser just a desktop user.