Payroll liabilities

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PatK
PatK Member Posts: 16 ✭✭

First up: this is a most confusing site! I'm not sure if this is the place to ask for help but here goes. I've been using reckon accounts Plus (2019 is my current version) for many years. I have no idea really what a Balance Sheet is and I probably am happy to continue not knowing. But! My Balance Sheet as of June 30 shows payroll Liabilities of around -$24,000. I don't know if that means I apparently owe that amount or what. But I'm sure this figure should be about zero as I am always up to date( pretty well) with what I owe. I must be entering payments wrongly I feel. When I zoom in on the -$24k and check the "All" dates, the liabilities go back to 2014! There are 20 rows. So it seems that sometimes I get it right! can someone please help me please? cheers, Pat.

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  • Kris_Williams
    Kris_Williams Member Posts: 3,492 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    this site is not really the place for bookkeeping answers. A little knowledge would help you and the best way would be to spend a couple of hours with an accredited trainer.

    if you did owe anything the figure would be positive not negative and it’s bit hard to answer further without looking at your file

  • PatK
    PatK Member Posts: 16 ✭✭
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    Thanks Kris. I've had excellent help in the past with another question a few years ago. This page seems to be headed "Discussions" but I really need a "Help" page. I thought that was what the Reckon Community was all about. Are you able to direct me to a Help Page please? I will try for an accredited trainer but I thought this might be a simple fix.

  • Kris_Williams
    Kris_Williams Member Posts: 3,492 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2021
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    Sort of need to have a question, yours is a bit general and more of a bookkeeping question than a Reckon one. I’m happy for you to call me tomorrow

    0415940843

    do you have TeamViewer on your computer? I don’t think it would take long to work out the problem but need to see it. Email me a photo of the 20 rows, might shed some light - critters@netspace.net.au

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,589 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2021
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    @PatK The Balance Sheet shows the values of your assets (what you own) v liabilities (what you owe) as at a specific point in time (eg date)

    As a liability owed is a positive number, if you're seeing a negative, this suggests that either other payment amounts have been incorrectly posted/journalled there &/or the original liability(ies) those payments/amounts relate to was never entered/posted to that account initially, thereby incorrectly resulting in a credit balance.

    As Kris said, in order to pinpoint the specifics, it would be necessary to view the file to actually see the transactions in that account.

    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

    shaz@accounted4.com.au

    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!)