NT (no tax) tax code

Jay Garland
Jay Garland Member Posts: 130
edited August 2020 in Accounts Hosted
I needed to create a tax code that wasn't going to be tracked on the BAS so I created NT (for No Tax). I found leaving the tax code blank problematic.

When I generate the report TAX > TAX SUMMARY, I now get a column with all the NT figures listed. Is there a way to generate the TAX SUMMARY report and leave the figures for this tax code out?

Comments

  • Jay Garland
    Jay Garland Member Posts: 130
    edited November 2017
    Thanks. I've gone and modified all tax codes and unchecked NT and everything works! Many thanks.
  • Adrian_6974554
    Adrian_6974554 Member Posts: 191 ✭✭
    edited April 2017
    You need to be careful when using filters on this report. When filtering out tax codes it has a side effect that it ignores any journal entries that have been entered using any other code.

    So the report shows incorrect figures.


    Adrian

  • Jay Garland
    Jay Garland Member Posts: 130
    edited August 2020
    Ok - so how do you get around that? I did notice that the figures seemed out by about $10 and wondered if the journal entries had impacted the reporting in some way. Is this something the developers are working on? How do I get accurate reports then if the calculations are incorrect?
  • Adrian_6974554
    Adrian_6974554 Member Posts: 191 ✭✭
    edited April 2017
    Who knows if it will be fixed in Reckon. There are other things that they have changed that stop other functions from working and have not corrected them either.

    You only have two options.
    Don't filter the report or do not enter in any transactions that have to do with GST in a journal.


    Adrian
  • Jay Garland
    Jay Garland Member Posts: 130
    edited November 2017
    Which then means I can't create a special tax code to have the online banking function work. I've gone and removed all the special tax codes I created as I use journal entries a lot and I need my reports to be accurate. *cry
  • Jay Garland
    Jay Garland Member Posts: 130
    edited November 2017
    I use ONLINE BANKING TRANSACTION RULES to automatically process regular deposits that I receive. These are recorded by RECKON automatically using a journal entry. When I create a tax report for my GST/BAS, the report is incorrect. I've adjusted my processes so everything now works and is correct. I do find it frustrating that there are such bugs in the software.
  • Jay Garland
    Jay Garland Member Posts: 130
    edited November 2017
    I have some regular deposits that come through for my business. They are all different amounts and are not paid on invoices (they are commission bonuses and the company email me an invoice after payment). Rather than inputting them all manually, I've been using the ONLINE BANKING function to automate the process when I download transactions from the bank. This part of the RECKON software processes such payments as journal entries. The convenience of the ONLINE BANKING function and the automatic entries of data into RECKON is one of the key features that attracted me to the software.
  • Adrian_6974554
    Adrian_6974554 Member Posts: 191 ✭✭
    edited July 2017
    Jay has no option when using Bank rules. Reckon only enters income is an journals, and not as sales receipts. This is something that should be fixed.

    Adrian
  • Jay Garland
    Jay Garland Member Posts: 130
    edited August 2020
    I bought the software to avoid all the manual data entry - so I'm going to bang RECKON HOSTED with a hammer until it works for me (not against me).
  • James Vella
    James Vella Member Posts: 3
    edited August 2020
    ive got this problem too. This is a big deal. Reckon, do you plan on fixing this ever?
  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020
    I often use a journal with tax codes, to handle a refund from a supplier e.g.
  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020
    Why can’t you just ignore the NT tax code when lodging the BAS? Let it be included on tax summary report but don’t add to any BAS lines
  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020
    If a bill hasn’t been entered no point entering an adjustment note. Payment was made by eftpos and refunded into bank
  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020
    Did make a purchase and then got a refund. Haven't you ever taken anything back?
  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020
    I like a journal entry. There are many correct ways to process transactions in Reckon, whatever the user is more comfortable with is the best way
  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020
    I’m not an accountant either, but was trained in an accountant’s office over 50 years ago when most things were journals. Still as I said there are many different correct ways to do the same thing and I mix and match, depending on circumstances
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020

    Hi James

     

    Can you be more specific?  What problem are you having?

     

    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


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020

    I have to agree with Kevin on GJs.  Programs like RA are designed to utilise specific form entry features in place of entering GJs.  I find GJs can cause a lot of confusion for non-accounting users & don’t “explain” what’s taken place like a form entry does. 

    Obviously there are some cases where a GJ is necessary eg Depreciation but I only use them for this or if there’s no other option for a particular entry.

     

    If GST is involved, the correct process is a Bill Credit entry & a Deposit to Accounts Payable applied to offset it.  The Bill Credit takes care of any GST reversal & the Deposit correctly records the refund received.

     

    It’s usually the ex-MYOB-ers who want to use an “NT” tax code instead of just leaving it blank! <Sigh>

     

    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


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 2020

    I have to agree with Kevin on GJs.  Programs like RA are designed to utilise specific form entry features in place of entering GJs.  I find GJs can cause a lot of confusion for non-accounting users & don’t “explain” what’s taken place like a form entry does. 

    Obviously there are some cases where a GJ is necessary eg Depreciation but I only use them for this or if there’s no other option for a particular entry.

     

    If GST is involved, the correct process is a Bill Credit entry & a Deposit to Accounts Payable applied to offset it.  The Bill Credit takes care of any GST reversal & the Deposit correctly records the refund received.

     

    It’s usually the ex-MYOB-ers who want to use an “NT” tax code instead of just leaving it blank! <Sigh>

     

    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


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)