General Journal Tax Item

Mike ThackerMike Thacker Member Posts: 1
edited April 2017 in Accounts Hosted

A client file was updated from an old version of QB to Reckon Accounts Hosted.  In the older version the client would enter a general journal and for an item subject to GST they would select the Tax Code GST and in the tax reports it would report purchases as purchases and sales as sales.  In Reckon Accounts Hosted this now reflects the purchase items in a Tax Report as negative sales?  In the Tax Item Code area the GST code has Purchase Tax GST -P and Sales Tax GST in the taxable information.  I am unsure how the old file was setup

Additionally we have tried to adjust the previous entries and change the code GST to say NCG and get the following message "You cannot enter a transaction that contains both sales and purchase tax items. You must enter these types of transactions as separate General Journal entries"

My question really is can we have the same TAX code that can distinguish between purchases and sales on the tax reports and can we fix the existing journals?

Hope all that makes sense



Sign In or Register to comment.