Expenses reporting discrepancy

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  • Updated 2 months ago
Why would I have a discrepancy between the expenses chart on the Company Snapshot and the expenses on my Tax Liability Report?  How can I fix this?
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Emma Allford

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Posted 2 months ago

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John Graetz

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Emma.  The Tax Liability Report obtains its information from purchases from all sources.  This includes accounts in the Profit and Loss account and also the Balance Sheet.  It you have purchased any Assets, to use an example, they do not appear in your P&L but appear as transactions on your balance sheet.
John L G
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Emma Allford

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Do these Assets still appear in the chart on the Compnay Snapshot page under Expenses?
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John Graetz

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Emma.  I do not use the Company Snapshot.  However, logic would say that they would not be included because they are not expenses as such.  Have a look at the drop down box for the category you are looking at to see what is included in your own specific report, but as far as I can see, that report does not have the scope to include Asset purchases, nor should it.   If you run the report Tax> Tax Detail, you will see exactly where your GST figures are being drawn from.
John L G
I only use TaxLiability report for GST reporting since say 2000  i think . Agree with John
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John Graetz

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Exactly, Chandra.  For BAS purposes only and yes, it was the year 2000!
John L G
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Emma Allford

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Thank you.  I only report from the Tax Liability report too but noticed the difference between the 2 and wondered if maybe I had something entered incorrectly.
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Kris Williams

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I prefer the tax summary