I have just realised after entering hundreds of purchases that i have used CAG tax code instead of N

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Ben Knight
Ben Knight Member Posts: 3 ✭
edited June 2020 in Reckon Accounts (Desktop)
I have Small Business 2013 accounts accounting. 

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  • [Deleted User]
    [Deleted User] Posts: 0 ✭
    edited May 2015
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    Yes it does, as Capital purchases appear in the BAS as a separate item.  It is still the same amount, but you will need to change the Tax Code back to NCG on every purchase.  As far as I know, there is no easier way to do it.  You can make sure that all your suppliers Tax Codes are allocated properly, ie as NCG, but also all your purchased items need to have that tax code applied as well, then it will just carry through to when you create your purchases in the future.... That way you won't make the same mistake again..

    Does anyone know a faster way that you can fix this????

    Cheers,

    Ruth Newell

  • Robyn_7112869
    Robyn_7112869 Member Posts: 32 ✭✭
    edited April 2020
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    I think the easiest way would be to do a tax summary report (Reports>Tax>Tax Summary) and find the CAG purchases you have made within the date range which is affected. You can go to the CAG column and double click and edit any transactions which are incorrect by changing tax code. As the report gets refreshed you can see any remaining transactions which still require editing.
    Hope this helps. :)
  • Rosie
    Rosie Member Posts: 120 ✭✭
    edited June 2020
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    Yes that will unfortunately. Perhaps you could post a journal for the total value to move them from CAG to NCG. This would be the quickest way to fix it for BAS. You could run a summary report as stated above and drill down into the CAG transactions, Once you have a total for the amounts that were incorrectly allocated to CAG you could enter a journal to Dr the expense code and use the NCG tax code and then credit the same code and use the CAG tax code. You will need to make sure you do this journal monthly or quarterly so it sits in the correct BAS period.

    If there are many different accounts that the transactions have gone to it would be easier to just do as Ruth and Robyn explained above. This will also leave a much cleaner audit trail.
  • Ben Knight
    Ben Knight Member Posts: 3 ✭
    edited March 2015
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    Thank you Robyn. Spot on.
    You have helped me regain my sanity. 
    Now, i have much work to do. : )
  • Ben Knight
    Ben Knight Member Posts: 3 ✭
    edited March 2015
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    Thank you Ruth.
    Good advice.

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