OUTPUTS (Sales) GST APPEARING AS A "-" MINUS UNDER INPUTS (Purchases) - WHY????

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OUTPUTS (Sales) GST APPEARING AS A "-" MINUS UNDER INPUTS (Purchases) - WHY????


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Sue Jones

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Posted 1 year ago

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Kevin Russell, Accredited Partner

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Call me to discuss Kevin 0407744914
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Sue Jones

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Thanks. I'm just running Verifying Data

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Kevin Russell, Accredited Partner

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Why?
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Shirley Ingle, Accredited Partner

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Hi Sue  Check the Chart of Accounts code for the entry. If you are using an expense code then the tax code is NCG or NCF, for Income it is GST, FRE, EXP or INP.

The best way if using Reckon Accounts desktop or Hosted to check out your tax coding is to run a General Ledger report and add the tax code column. Scroll through the report and you will pick up any miscoded items be it allocation or tax coding.

Also if you are finding amounts not appearing in your Tax Summary report it is best to check the reporting basis, Cash or Accrual. If you enter a bill for e.g. 9th September and don't pay it until October and you are reporting under Cash basis, the entry will not show up on your Tax Summary report until October - December quarter.

Check these post for 3 days ago when you had a query on credit cards.

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Sue Jones

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All other months are fine. Just September. I am on Cash & it is entered under Write Chqs section.
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Shirley Ingle, Accredited Partner

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Sue  Check your coding. If you made an entry under Write cheques, then the tax coding is NCG or NCF and allocation should be an Expense code not an Income.
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Sue Jones

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If I select date rang 1.10.15 - 1.11.15 it shows up.

But if I select 1.10.15 - 31.10.15 it doesn't show up

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Shirley Ingle, Accredited Partner

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Sue What program are you using and what report are you looking at.

Also are you looking at reports for 2015?

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Sue Jones

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HOSTED. I fell behind in data entry due to illness. So just catching up.