Chart of Accounts - Tax Liabilities sub accounts not recording

  • 1
  • Question
  • Updated 5 months ago
  • Answered

Hi all, I am new to Reckon Accounts Premier 2017 addition and have come across a problem I am unsure of how to fix.

In the Chart of Accounts - the Tax Liabilities are not distributing into sub accounts:

- GST Tax collected

- GST Tax Paid

- Income Tax Liabilities


Can anyone help me fix this so the software is recording the figures to the correct places?

Photo of Emily

Emily

  • 100 Points 100 badge 2x thumb

Posted 5 months ago

  • 1
Photo of Kevin Russell

Kevin Russell, Accredited Partner

  • 35,092 Points 20k badge 2x thumb
Good afternoon. In Reckon 2017 there are no sub accounts for GST.  Payg withholding is not a sub account either. You are most welcome.
Photo of Emily

Emily

  • 100 Points 100 badge 2x thumb
Thank you Kevin- So you are telling me that the main heading of Tax Liabilities is the only area that will record our GST paid and collected, giving us a running total. So, even after our accountant made the sub headings of Collected and Paid we can not instruct the program to place the GST into the appropriate sub heading. 
If this is the case, can the program report on GST collected and GST paid separately. We have an error that we are trying to find and really need to see these figures separately for each month. 
Photo of Kevin Russell

Kevin Russell, Accredited Partner

  • 35,092 Points 20k badge 2x thumb
Emily if your Accountant doesn't know how to use Reckon that is a problem. The GST collected and the GST paid are easily discernible from the Tax Liability report. Call me if you need help with this. 0407744914
Photo of Glenda Veale

Glenda Veale

  • 1,004 Points 1k badge 2x thumb
Try the tax details report from the Manage Tax box
Photo of Kerryn Swarbrick

Kerryn Swarbrick, Accredited Partner

  • 70 Points
Tax Liability Report is the easiest way to check the breakdown of the GST Liabilities, I setup Payg Withholding Liability and Superannuation Liability accounts and link these via the Payroll items to give clarity for the Balance sheet reconciliation also.
 

Hi Emily

Reckon automatically creates a default "Tax Payable" account (for GST) if you select yes for being GST-registered in the setup wizard.

If preferred, you can choose to break this down into paid & collected subaccounts by creating them & configuring via the "Tax Agency Info" tab under your "Australian Taxation Office" Supplier record (Make sure you have the "Supplier is a Tax Agency" checkbox ticked)