Expenses reporting discrepancy

Options
Emma Allford
Emma Allford Member Posts: 10 ✭
edited July 2020 in Accounts Hosted
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?

Comments

  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited July 2020
    Options
    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
  • Emma Allford
    Emma Allford Member Posts: 10 ✭
    edited May 2020
    Options
    Do these Assets still appear in the chart on the Compnay Snapshot page under Expenses?
  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited May 2020
    Options
    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
  • cosmic
    cosmic Reckon Developer Partner Posts: 1,075 ✭✭✭
    edited May 2020
    Options
    I only use TaxLiability report for GST reporting since say 2000  i think . Agree with John

    Cosmic Accounting Group

    Accountants and Tax Agents 22397009

  • Emma Allford
    Emma Allford Member Posts: 10 ✭
    edited May 2020
    Options
    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.
  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited May 2020
    Options
    Exactly, Chandra.  For BAS purposes only and yes, it was the year 2000!
    John L G
  • Kris_Williams
    Kris_Williams Member Posts: 3,293 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited May 2020
    Options
    I prefer the tax summary

Categories