Balance Sheet LSL not adjusting

LAB
LAB Member Posts: 2 Novice Member Novice Member
in Reckon Accounts (Desktop)

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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  • Acctd4
    Acctd4 Accredited Partner Posts: 3,754 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    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

    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!)

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