GST REFUND - Accounts Home & Business '15

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Johnathon Reeves
Johnathon Reeves Member Posts: 16 ✭
edited March 2017 in Personal Plus and Home & Business
I am trying to find out how to zero out (properly) the *tax control* account after a GST refund.  Ie after a tax payment the tax control account is no longer correct as the ATO has refunded GST into a bank account, but the tax control account states that x amount is still owing etc.

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  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited March 2017
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    Hi Jonathon,

    Welcome to the Reckon Community.

    You should book payment/receipts of net GST to /from ATO to the Tax Control Category.  


    regards,
    John


  • Johnathon Reeves
    Johnathon Reeves Member Posts: 16 ✭
    edited November 2015
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    Thanks, so to ensure I understand - I duplicate the actual payment transaction to/from my account to effectively zero out the account.
  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited March 2017
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    Hi Jonathon,
    No duplication necessary.  When you are receiving your GST refund into your Bank Account, set the category to Tax Control.

    image


    regards,
    John

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