Profit & Loss Sales do not match Sales or Tax Liability

RoddisRoddis Member Posts: 1

Hi, Can someone explain why this year my Sales by Customer Summary and Tax Liability match but my Profit and Loss Sales do not. I use an Accrual system and have not sold any assets this year.

This has had huge implications on my net income.

Comments

  • Acctd4Acctd4 Accredited Partner Posts: 1,727 ✭✭✭✭

    Hi Roddis

    Sounds like an issue with your Item linked accounts.

    Have a look at your Item List & check that all Items are linking to an Income account on the Sale side (& - where applicable - an Expense or COGS account on the Purchase side)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

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

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

    Accounted 4 Bookkeeping Services Ballajura, WA

    0422 886 003

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    (NB: Please mark your post as Accepted Answer/Answered if I have been able to resolve your query as this helps others when seeking solutions!)

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