GST total addition incorrect

Annie Jacobs

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.

Kevin Calvert_10773433

This would be for the total rounding of each calculation.

Acctd4

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

Kat001

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

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 ☺️

Kat001

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

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.