Why doesn't my Supplier ATO balance equate to zero after Processing the BAS transaction paid? Ive checked back 5 years and it always leaves a balance when it should be zero?
Just ignore it, means nothing, doesn’t appear in the balance sheet or anywhere else
Hi @RiverdaleAdmin23 This isn’t your ATO account balance, it’s the ATO Supplier balance, so it includes EVERY transaction, even non-posting ones like POs.
Your ATO account (in your Chart of Accounts) is where the account running balance is. However, bear in mind that unless you are on Accrual for GST (BAS) reporting & are not entering any transactions in between, this will be in real time, whereas the ATO only has what’s lodged so far 😊
Thank you for responding. The supplier account is my concern. If I am only using the supplier account for the payment of the BAS then the account should come to zero each month but it has this residue.
I would like to see it at zero any one got any ideas.
The Chart of Accounts is keeping a running total of GST from invoices so that's fine.
Regards Helen
Hi @RiverdaleAdmin23 This isn’t your ATO account balance, it’s the ATO Supplier balance, so it includes EVERY transaction, including non-posting ones (like POs etc) !
Your ATO account (in your Chart of Accounts) is where the account running balance is. However, bear in mind that unless you are on Accrual for GST (BAS) reporting & are not entering any transactions in between, this will be reflecting in real time, whereas the ATO only has what’s actually been lodged so far 😊
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