GST money flow through Reckon

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  • Updated 2 years ago
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Hi all, GST question in Reckon Accounts Hosted.
Chart of accounts has our trading bank ECOC (a real account in Bank SA)
Under that we have sub accounts for groups such as CAFE and Administration etc.
Lets say
I get income for Cafe with GST ie $2,200 inc GST so $2000 should go to Cafe and $200 to GST
Next I get a bill for CAFE with NCG ie $1000 Gross so $909.10 should come out of CAFE and $90.90 from GST
Now I get income for Admin ie $4,400 inc GST so $4,000 should go to Admin and $400 to GST
AND a bill for $500 with NCG so $454.55 from Admin and $45.45 from GST
SO all the income for CAFE - bills = $1,200 Balance
SO all the income for Admin - bills = $3,900 Balance
now I process GST (G1 $6,600 G11 $1,500 1A $600 and 1B $245.xx )
This leaves me $355 to pay to ATO
Reckon Tax summary tells me correctly what to pay. (It already knows what it was INCOME from and what BANK it went in to.

My Question
Why does it now ask for only one BANK ACCOUNT to pay the $355
alternately I process a Receive tax refund for the $245 and Process a pay tax for the $600 but again still only ONE bank account each time.
This skews the figures in each account by the GST(NCG) on reporting to the groups what they have.

Can I set it up differently or have to do it all manually? Is there a way RAH can automatically BANK GST (NCG) seperatley from where it puts the usable portion of the MONEY or use the correct breakdown from each BANK when paying it.?

Dave Fisher (Treasurer) for Elizabeth Church of Christ Inc.
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Posted 2 years ago

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Linda Benfield, Accredited Partner

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Hi Dave,

Totally understand your situation.

In short... You will have to do it manually.

However, if you set up Class for "Café" & "Admin" and use these in all of your transactions (Income and Expenses) you can run the Tax Summary Report by class, selecting them individually, RAH will give you the GST on Sales and Purchases as well as the Net (of course).

It works beautifully and allows you to pay the ATO Bill in 2 stages to each bank account.


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John Graetz

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Hi Dave.  This works as Linda has stated, and you could also use the Tax Liability Report to get a similar result by splitting the report into Classes.
When it comes to a Balance Sheet, Classes do not have any real relevance.  However, in the case of the Tax Reports, provided a Class is selected for every transaction, including Balance Sheet items, the Tax Report will split the values into Classes (by using the filters section), which is just what you want.
John L G