Liability Cheque Not Showing in Reconciliation

We recently changed from a sole trader to company. Our PAYG was done quarterley with our BAS but when we changed over, the ATO sent a couple of PAYG instlament activity statements to be completed until our accountant changed them to be done with our BAS as was done previously.

I have entered 2 Liability cheques for the amounts paid to the ATO for PAYG but when I am now reconciling, they are not showing up as a payment to tick off.

Does anyone know how to correct this?

Thank you

Rachel

Comments

Bruce

Have I interpreted it correctly that the PAYG instalments relate to when you were operating as a sole trader?

If this assumption is correct, these amounts will not show as liabilities in the new Hosted file for your Company. This is because they are liabilities that belong to the "sole trader" Best to record them as an expense and apply them to an new account Fixed Asset:Loans to Sole Trader or similar

Acctd4

This sounds like it’s due to the “Bank Account” that the transactions are being paid from - Open the liability cheques & change to the correct bank account ☺️

rabrro

Thank you, it had defaulted to the wrong bank account, thank you :)

Acctd4

@rabrro You can set the default bank accounts for this (& other payable transactions) in your Preferences ☺️

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