How do I process a GST Refund in Reckon One?

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  • Updated 5 years ago
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GST is collected in the GST Liabilities account.  As this is a protected account there are restrictions on how you can use it.  You can only make manual entries into this account through the General Journal.  

  1. Open a new General Journal form (Adviser > Journals > Add a journal).
  2. Add a Summary for the transaction and if you like a Description.  
  3. Amounts should be Net as this is not a goods & services transaction.
  4. On the first line of the table, select the GST Liability account (you may use either the Collected or Paid sub-accounts) and enter the tax refund amount as a credit.  
  5. On the second line of the table select your bank account and enter the amount as a debit. 
  6. Click Save to save this transaction.  

You're done - you've received your GST refund! 


Take Note: 

You cannot reconcile a transaction to the bank account entered as a journal through BankData or a manual upload (QIF file).  You can only reconcile it through an "old school reconciliation".  

The Payments and Receipts List Report will not show any transactions to the bank account entered via a journal.

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Posted 5 years ago

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