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?
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.
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)