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NT (no tax) tax code

Jay Garland

I needed to create a tax code that wasn't going to be tracked on the BAS so I created NT (for No Tax). I found leaving the tax code blank problematic.

When I generate the report TAX > TAX SUMMARY, I now get a column with all the NT figures listed. Is there a way to generate the TAX SUMMARY report and leave the figures for this tax code out?

Comments

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Jay Garland

Thanks. I've gone and modified all tax codes and unchecked NT and everything works! Many thanks.

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Adrian_6974554

You need to be careful when using filters on this report. When filtering out tax codes it has a side effect that it ignores any journal entries that have been entered using any other code.

So the report shows incorrect figures.

Adrian

Jay Garland

Ok - so how do you get around that? I did notice that the figures seemed out by about $10 and wondered if the journal entries had impacted the reporting in some way. Is this something the developers are working on? How do I get accurate reports then if the calculations are incorrect?

Adrian_6974554

Who knows if it will be fixed in Reckon. There are other things that they have changed that stop other functions from working and have not corrected them either.

You only have two options.
Don't filter the report or do not enter in any transactions that have to do with GST in a journal.

Adrian

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Jay Garland

Which then means I can't create a special tax code to have the online banking function work. I've gone and removed all the special tax codes I created as I use journal entries a lot and I need my reports to be accurate. *cry

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Jay Garland

I use ONLINE BANKING TRANSACTION RULES to automatically process regular deposits that I receive. These are recorded by RECKON automatically using a journal entry. When I create a tax report for my GST/BAS, the report is incorrect. I've adjusted my processes so everything now works and is correct. I do find it frustrating that there are such bugs in the software.

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Jay Garland

I have some regular deposits that come through for my business. They are all different amounts and are not paid on invoices (they are commission bonuses and the company email me an invoice after payment). Rather than inputting them all manually, I've been using the ONLINE BANKING function to automate the process when I download transactions from the bank. This part of the RECKON software processes such payments as journal entries. The convenience of the ONLINE BANKING function and the automatic entries of data into RECKON is one of the key features that attracted me to the software.

Adrian_6974554

Jay has no option when using Bank rules. Reckon only enters income is an journals, and not as sales receipts. This is something that should be fixed.

Adrian

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Jay Garland

I bought the software to avoid all the manual data entry - so I'm going to bang RECKON HOSTED with a hammer until it works for me (not against me).

James Vella

ive got this problem too. This is a big deal. Reckon, do you plan on fixing this ever?

Kris_Williams

I often use a journal with tax codes, to handle a refund from a supplier e.g.

Kris_Williams

Why can’t you just ignore the NT tax code when lodging the BAS? Let it be included on tax summary report but don’t add to any BAS lines

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Kris_Williams

If a bill hasn’t been entered no point entering an adjustment note. Payment was made by eftpos and refunded into bank

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Kris_Williams

Did make a purchase and then got a refund. Haven't you ever taken anything back?

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Kris_Williams

I like a journal entry. There are many correct ways to process transactions in Reckon, whatever the user is more comfortable with is the best way

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Kris_Williams

I’m not an accountant either, but was trained in an accountant’s office over 50 years ago when most things were journals. Still as I said there are many different correct ways to do the same thing and I mix and match, depending on circumstances

Acctd4

Hi James

Can you be more specific? What problem are you having?

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

Acctd4

I have to agree with Kevin on GJs. Programs like RA are designed to utilise specific form entry features in place of entering GJs. I find GJs can cause a lot of confusion for non-accounting users & don’t “explain” what’s taken place like a form entry does.

Obviously there are some cases where a GJ is necessary eg Depreciation but I only use them for this or if there’s no other option for a particular entry.

If GST is involved, the correct process is a Bill Credit entry & a Deposit to Accounts Payable applied to offset it. The Bill Credit takes care of any GST reversal & the Deposit correctly records the refund received.

It’s usually the ex-MYOB-ers who want to use an “NT” tax code instead of just leaving it blank! <Sigh>

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

Acctd4

Obviously there are some cases where a GJ is necessary eg Depreciation but I only use them for this or if there’s no other option for a particular entry.