Gst control and Tax 101 report

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Chris_7677427
Chris_7677427 Member Posts: 16 ✭
edited June 2018 in Accounts Hosted
Hi, I'm using hosted and wondered if the total accumulating on the gst control a/c should be the same as the gst due on the Tax 101 report?  I have a difference of $3-4K

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  • Liz Kassie
    Liz Kassie Member Posts: 7 ✭
    edited March 2016
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    Not an easy one to answer as there are many factors involved.  However normally the GST figures in your BAS are on a cash basis and most businesses operate on an accrual basis.  So in this instance, if you are running the reports on these parameters, then the figure would not be the same.
  • Chris_7677427
    Chris_7677427 Member Posts: 16 ✭
    edited February 2017
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    Ok thanks for your reply. My consultant had said that Reckon is an accrual based system but we like to operate our gst on a cash basis. Yeah so not easy to know if its right or not or if the difference is an adjustment when we changed gst returns from invoice based to payments based...
  • Liz Kassie
    Liz Kassie Member Posts: 7 ✭
    edited March 2016
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    You should be able to run something like a trial balance and select to run on a cash basis and that should agree.  If not then you could have a problem.
  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited December 2016
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    Hi Chris,

    Reckon Accounts can report on both Cash or Accrual basis.  Set the choice in Edit > Preferences > Tax > Company Preferences > Tax Reporting Basis.  

    You can also elect to show your figure as either Net or Gross.

    Having set your preferred accounting method, you can set your preferred method for reports at Edit > Preferences > Reports & Graphs > Company Preferences > Default Reporting.  


    Hope this helps.


    regards,
    John

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