GST Problem

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  • Updated 2 weeks ago
I am having a problem with Reckon today when preparing GST reports. All three reports that I am running give me a different GST to be reclaimed amount. I have run a Tax Liability Report, a Tax Detail Report and also the Simplified BAS/IAS and all three give me a completely different number. Who can this be?
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Joanne Sedgman

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  • Confused

Posted 3 weeks ago

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Gerry Winter, Accredited Partner

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It may be a date range issue
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Kris Williams

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Have you tried a tax summary report?
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John Graetz

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Are you running the reports under the same accounting method i.e. Cash Basis or Accrual Basis?
John L G
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Joanne Sedgman

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Thank you all so far. I have checked that I am running cash in all three options and the date period is the same in all. The Tax Summary report gives me the same information as the Tax Liability Summary but neither are the same as the Tax Liability or Simplified Bas/IAS for. I do notice though when I run the tax summary report there is an amount under Net GST-P. What is that? And it is not the difference between the reports.
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Gerry Winter, Accredited Partner

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Check the codes in the Simplified BAS, drill down on the different amounts and compare
Historically I've found that if the Tax Summary (TS) & The tax Liability (TL) reports don't match, there is a data integrity issue, so resort all lists and rebuild the data file, if necessary create a portable backup and restore.
If the TS & TL match but differ from the Balance Sheet (BS) then this is generally data entry error ie ATO BAS Payment allocated incorrectly.

On a cash basis, the Tax Detail reports are sometimes incorrect if there are discounts or part payments involved as the system tries to calculate the GST at 10% still.  Therefore I will sometimes run them but never rely on them alone.

I always use the Tax Summary report – This one will always calculate correctly even in the above cases.  The GST sections of the Simplified BAS should match with this summary, provided the basis (cash v accrual) & date range are the same.

 

NB - Check whether you are reporting the Tax Summary & Tax Liability reports in net or gross ...

The Tax Detail is only/always generated in net so if your TS/TL are set to gross, that could be the problem!

 

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com