AR report is not showing over payments so does not agree with the balance sheet

Ruth_8937147
Ruth_8937147 Member Posts: 10
edited July 2020 in Accounts Hosted
I am running 2 companies that have the same ABN, they are currently in the one file separated by class.  When I run a combined AR report the total agrees with the balance sheet, but if I modify the report and run by class the report does not pick up client over-payments hence does not agree with the balance sheet - How can I get the AR by class to acknowledge the over payments?

Thanks

Comments

  • Linda ABC
    Linda ABC Accredited Partner Posts: 1,131 Accredited Partner Accredited Partner
    edited June 2020
    You could consider setting up another Accounts Receivable account in the chart of accounts - and then make sure you invoice out of the correct AR for the correct company?  I think this should then ensure any credits stay in the correct account and you would just need to Filter and memorise 2 x AR Ageing reports, one for each AR account?
  • Ruth_8937147
    Ruth_8937147 Member Posts: 10
    edited July 2020
    Thanks Linda, I have 2 AR Accounts one for each business and each invoice goes to the relevant AR account, the class distinction is to separate the companies for reporting. I have copied the the same settings from the 'generic' report that has the combined total so in theory when I modify and drop one company out it shouldn't effect the report but after a long frustrating search it is over payments from clients that are not allocated to a class that have been dropped and their account is now in credit.
  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited August 2018

    HI Ruth.  Are you running Cash Accounting or Accrual Accounting as this could be having an effect if running Cash Accounting.
    John L G
  • Ruth_8937147
    Ruth_8937147 Member Posts: 10
    edited August 2018
    Hi John,

    I am running Accrual Accounting
  • Linda ABC
    Linda ABC Accredited Partner Posts: 1,131 Accredited Partner Accredited Partner
    edited August 2018
    Ruth - I don't believe Class tracking is really designed to work with the Balance Sheet - I have always struggled to be able to filter a balance sheet and get 2 different reports that together add up correctly to the whole entity - and I agree with your research on the cause, there are some transaction types that are not able to track classes, such as Receive Payments and Pay Bills... so I would always end up manipulating an Excel report.  So you will probably need to run a combination of reports so that you can manipulate your Class reports in Excel and get the right figures?  Another consideration would be to run each company in a separate file - and then use the Consolidated reporting option to run combined reports?
  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited August 2018

    I can totally agree with you Linda.  To do it any other way than how you have suggested, is a nightmare.  I know, because I went through the process of being required to amalgamate two companies into one file.  The nightmare came when trying to do the BAS.  Class tracking works with P&L items, but cannot with balance sheet items such as fixed assets (for GST).  After 14 months I went back to two files and had to de-construct the combined file.  In itself, this picked up some errors which one doesn't readily think of when having transactions between the two entities.  Combining two reports into one Excel Report is by a long way, a far simpler exercise.
    John L G 
  • Linda ABC
    Linda ABC Accredited Partner Posts: 1,131 Accredited Partner Accredited Partner
    edited August 2018
    Depending on the actual circumstances around this - it surely may be better to run two files?  I have had clients with different ABN's but they were consolidated for BAS/Income tax purposes - I used a spreadsheet to amalgamate the 2 x Tax Summary report figures for the one BAS... or in the case of my own business I have one ABN but two branches - and I have always run 2 separate datafiles and lodged 2 separate BAS returns... 
  • Ruth_8937147
    Ruth_8937147 Member Posts: 10
    edited April 2020
    Thanks to you both for your help, the really frustrating part is that the report worked before the update to 2018/2019, If I look back over my June report everything balanced between the separate AR reports & the balance sheet yet if I run the same report now they don't. Looks like I will be manipulating excel spread sheets - not idea when it used to work.  What happened with the upgrade Reckon? But thank you to you both for taking time out of your day to help, Reckon support is very hard to get so having other users willing to try and solve situations is a massive help :-)