Incorrect balance in Cash basis report

Sandra_10124565

I have an Other Income account which persistently gives an incorrect value every time I generate a Cash Basis report which uses it, eg Profit and Loss, Transaction Detail by account etc.

It is a refund from a supplier. No GST involved in this particular transaction.

I have entered a Bill Credit dated 30 June. The refund itself came through on 4 August, so I entered a deposit for that date ("From" account was Accounts Payable). Then I went into Pay Bills and marked the two off against each other using the Apply Credit box; also on 4 August. There were other lines on the Bill Credit, but these all posted to other Asset/Liability accounts.

An accruals basis report on that account to the end of June gives the correct value of $19228. The Cash basis report SHOULD be $0, but it keeps coming up as $14036. If I generate a Cash basis report for the following year, the rest of the transaction $5192 shows up then (where the whole transaction should be).

I have tried doing a rebuild (which didn't help).

Does anyone know what might be causing this problem?

Any help appreciated!

Sandra

Kris_Williams

I had this problem once and it took me forever to fix it, it was a setting in preferences, I’m sure it was in Reports, try changing the default report setting.

Kris_Williams

If that doesn’t work try the tax preferences for tax reporting basis. It doesn’t matter if it is set for accrual as you can change most reports from the modify window when report is on the screen. I do know it was something obscure

Kris_Williams

We’re there any negative lines on the credit note?

Sandra_10124565

https://community.reckon.com/discussion/comment/20623312#Comment_20623312

I think this was the key comment Kris. Yes there were also some negative lines on the credit.

I tried splitting the problematic income lines off from the rest of the entry into their own credit, entering the other part as a bill, and then reconciling it through the "Pay Bills" screen. This still didn't work.

So the solution that DID work was running it all through a clearing account.

• Enter the Income part (that was not reporting correctly) as a Bill Credit, dated 30 June
• Enter a matching Deposit, with the From account as "Accounts Payable" and depositing to the Clearing Account
• Match these together via Pay Bills, dated the date the refund came in
• Enter the Assets/Liability part of the original transaction as a Bill, dated 30 June
• Pay the Bill from the Clearing account, dated the date the refund came in
• Transfer the balance in the Clearing account (which is equal to the refund we received) to our regular banking account

Thank you very much Kris for the pointer in the right direction!

Sandra

Kris_Williams

Glad you got it sorted