Liability Cheque Not Showing in Reconciliation

rabrro
rabrro Member Posts: 16

We recently changed from a sole trader to company. Our PAYG was done quarterley with our BAS but when we changed over, the ATO sent a couple of PAYG instlament activity statements to be completed until our accountant changed them to be done with our BAS as was done previously.

I have entered 2 Liability cheques for the amounts paid to the ATO for PAYG but when I am now reconciling, they are not showing up as a payment to tick off.

Does anyone know how to correct this?

Thank you

Rachel


Comments

  • Bruce
    Bruce Member Posts: 439 Professional Partner Professional Partner

    Have I interpreted it correctly that the PAYG instalments relate to when you were operating as a sole trader?

    If this assumption is correct, these amounts will not show as liabilities in the new Hosted file for your Company. This is because they are liabilities that belong to the "sole trader" Best to record them as an expense and apply them to an new account Fixed Asset:Loans to Sole Trader or similar

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    This sounds like it’s due to the “Bank Account” that the transactions are being paid from - Open the liability cheques & change to the correct bank account ☺️

    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!)
  • rabrro
    rabrro Member Posts: 16

    Thank you, it had defaulted to the wrong bank account, thank you :)

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    @rabrro You can set the default bank accounts for this (& other payable transactions) in your Preferences ☺️

    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!)