Balance Sheet LSL not adjusting

LAB Member Posts: 2

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


  • Acctd4
    Acctd4 Accredited Partner Posts: 3,169 Reckon Accounts Hosted 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 *

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    Ballajura, WA

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