GST total addition incorrect

Annie Jacobs
Annie Jacobs Member Posts: 1
edited July 2020 in Reckon Accounts (Desktop)
Whist the GST is calculated in line items correctly, the final total is incorrect. It is has been out by just a small sum of around $3 but it is very annoying and embarrassing to issue invoices which are incorrect.

Comments

  • Kevin Calvert_10773433
    Kevin Calvert_10773433 Member Posts: 1
    edited July 2020

    This would be for the total rounding of each calculation.
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,314 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited July 2020

    Hi Annie

     

    As Kevin said, this is a rounding thing however, if you are using Reckon Accounts or Reckon Accounts Hosted, you can allow tax amounts to be edited in your Preferences (under Edit dropdown menu > Preferences > click on Tax in LHS list > Company Preferences tab)

     

    NOTE: Editing GST amounts should only be done for minor rounding variances

    If you are entering a transaction which has a mixture of GST & non-GST components, it’s important to enter separate line items with the applicable tax codes in order to maintain the integrity of your BAS/tax reports. 

     

    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

    [email protected]

    www.accounted4bs.com


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Kat001
    Kat001 Member Posts: 13

    Good Morning

    I am having the same issue. I have the edit option selected in company preferences however the GST amount only shows on the invoice (incorrectly) and not on screen to change. It is greyed out and can't be selected (tick box) to be able to alter amounts. Is there away to correct this?

    Thank you

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,314 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Hi @Kat001

    How much is it out by ?

    The GST field is automatically greyed out on sales forms (even with the Edit … option Preference enabled) to prevent accidental changing.

    The only way to manipulate it is to use multiple decimal places for the amount in your Rate column but if it’s only a few cents out, I wouldn’t bother as GST is reported/paid to the ATO in whole dollars only anyway ☺️

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Kat001
    Kat001 Member Posts: 13

    Hi @Acctd4

    Thank you for your reply. The amount is out by 4 cents but looks unprofessional. The invoice has a total net amount ending in 602.00 and then total gst ending in 60.24 cents. I need to upload details into our clients system as a net amount and the totals (including gst) don't match. The clients system automatically issues a non conformance as the total amounts differ. :)

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,314 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Is the invoice just one Item (line) or multiple ?

    Do you have the prices set on the individual Items in your Item List ? Check these aren't set as "Gross Amount" - If they are, try setting them as the net price instead.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)