Balance Sheet LSL not adjusting
LAB
Member Posts: 2 Novice Member
I am using Reckon Hosted and the Long Service Leave on the balance sheet isn't adjusting to the correct amount. The Leave Liability Report is correct. How do I get around this. thanks
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Comments
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Hi @LAB
Financial reports (eg Bal Sheet & P&L) are based on actual monetary transactions rather than changes in liability entitlements. If you want to see leave liability movements, this needs to be entered as a GJ. (If wanting to reflect this, the GJ would usually be done periodically eg quarterly or annually)
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
(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!)
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