ATO Integrated Client account in Reckon Accounts Premier 2018

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Hi,
How do I set up the ATO Integrated Client account in Reckon Accounts Premier,
I have tried using a bank account as clearing account but I am unsure how to process the PAYGW since I use the "pay libilities" tab to pay.
I appreciate your assistance.
Thank you 
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Sue

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Posted 1 week ago

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Teagan Uttridge

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I have ours set up as a current liability. Because the PAYGW is usually in and out its not an issue. if it is on a payment plan you need to journal balance to the account
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Sue

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Thank you Teagan for your reply
I was hoping to set it up as a bank clearing account but maybe it is just not possible
Regards Sue
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Teagan Uttridge

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It would be a lot harder to set up as a clearing account due to the way premier treats the payments. you can still reconcile this account as needed. I found this was the easiest way to go 
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Sue

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Hi Teagan,I have just spent way too long on the phone with Reckon and got nowhere, I thought the support team at Reckon were the experts using Reckon - apparently not.Looks like the bank clearing account is not going to work.
My problems seem to arise when the PAYGW and BAS is on a payment plan.
Thanks again Teagan
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John Graetz

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Hi Teagan.  I think that you are probably being a bit tough on the Reckon Support team in this instance.  My belief if that your question should be directed to your Accountant who would be the expert in how to set up what you are trying to achieve. Reckon are there to help you process your transactions, instead of trying to help you set up what you have found to be a rather complicated issue, which falls into the realms of your Accountant who has that expertise.
John L G
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Sue

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Hi John,This is Sue, thank you for your input. :)
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Robert Smeallie

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Hi Teagan
You need to have an online user account set up with the ATO (myGov) and obtain an AUSKey number which proves your identity when submitting your GST Return. You then use the GST Report created in Reckon Accounts which should pick up any GST received from sales and GST paid for purchases, any PAYG Income Tax if applicable, and the current version of Reckon Accounts uses the new Simplified BAS return which is far simpler than the old form. Reckon Accounts will create the GST Report and there is a button which enables you to Lodge directly with the ATO via their online portal (if you are using the current version of Reckon Accounts). If you have provided your bank account details to the ATO then they can carry out a direct debit or direct credit depending on your GST/PAYG balance.

If you are using an old version of the software and are still getting the paper copy of the BAS from the ATO, you will need to create the BAS Report in Reckon Accounts which can't be submitted itself, but instead the figures are copied over onto the paper based form as applicable and mail it to the ATO with a cheque covering any GST?PAYG Tax owing or if you are owed GST expenses then you should receive a cheque.

Regards
Robert Smeallie
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Robert Smeallie

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My reply here assumes that you have the Australian Taxation Office set up in Reckon as a Supplier Account (Expense) to which any Accounts Payable (GST) will be posted so you can see how much is being paid, and the mechanism for supplying both the BAS Form and any amount payable is covered by my previous message above. 

You can set up an Electronic Clearing Account (Asset - Bank) which will need to have the required GST payment amount transferred from your Business Cheque Account (Asset - Bank) and a GST Liabilities account (Liability) to handle the amount of GST being paid, this being the function of the Double Entry Bookkeeping function. Reckon Accounts does all this for you as long as you have the above accounts in your Chart of Accounts/Accounts List.
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Sue

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Thank you :)
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Sue

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Hi Robert,
I was hoping there was a simple solution.
I want to reconcile the ATO Integrated client account to my Reckon Accounts Premier package in the simplest way possible - any thoughts?I thought maybe a bank account used as a clearing account or A/P might work?

Thank you :)
Hi Sue
Try a supplier account and enter the BAS as a bill.

It can be entered directly to the gst, paygw, and FTC if necessary, as neg. or pos. entries, this will result in the bill bal. being what is owed to the ATO.

You will not use pay liabilities function.  This way you can pay the bas bill off in full or pay by installments to the ato.  If there is any interest charged it can be entered as bill.

If you then do the AP report to match the date of the ATO statement then you will see if it reconciles.  If not run the supplier report to find discrepancy to ato statement.

This way there are no jnl entries simply pay bill and enter bills.
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Sue

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Hi Kwikbooks,
Great, this is a very simple way to do it.
Thank you :)