Reports to Include Groos Amount incl GST

Toby Shore
Toby Shore Member Posts: 5
edited March 2017 in Reckon One
Hi - I have just started to use ReckonOne [2015] and have loaded all my entries for 2014/15 FY. On the P+L Reports [and actually all] only the Net Amount is shown with GST component included in a separate GL code. This makes it very difficult to reconcile. How do I get my reports to show the Gross Amount Paid incl GST ? Thanks Toby

Comments

  • Qwerty
    Qwerty Member Posts: 261
    edited March 2017
    Hi Toby,
    The profit & loss report is a net (tax exclusive) report. Income & expense accounts are shown in the report however asset, liability & equity accounts are not shown. The accounts used in Reckon One to track tax are liability accounts.
    When reconciling a bank account in Reckon One, transactions are shown in gross amounts. To reconcile a bank account...
    Select the "Day to day" menu > Banking > Locate the applicable bank account & click the "New transactions" button > Select the "Allocate" tab, here you can specify the date range that you wish to reconcile (i.e. the 2014/15 FY), click the "Refresh" button & all transactions are shown using gross amounts.
  • Qwerty
    Qwerty Member Posts: 261
    edited March 2017
    A report that might be useful for your scenario is the "Account enquiry" report. Reporting (menu) > Financial > Account enquiry report By default the report shows all accounts. View the report options, change the "Accounts" settings from "All" to "Selected" & tick only the bank account(s) you want to review (i.e. for your reconciliation purposes). Set the report period (i.e. Last financial year), click the "Refresh" button & you should have a report showing all the transactions (in gross amounts) for the selected bank account(s).
  • Toby Shore
    Toby Shore Member Posts: 5
    edited July 2015
    Hi Qwerty

    Thanks for responses...have tried both options and whilst I get the gross amounts using the first on the 2nd [Account Enquiry" it is still showing the net amount....Was really looking to get the P+L Report etc showing the Gross Amount incl. GST as this way I can reconcile not only back to my Bank Statement but also the actual invoices..

    I see that other people had the same query over a year ago but doesn't seem to have been resolved or a solution offered.

    Best
    Toby
  • Qwerty
    Qwerty Member Posts: 261
    edited March 2017
    In the account enquiry report, bank accounts show gross transaction amounts for receipts, payments, transfers & journals. Invoices & bills however won't show under bank accounts in this report because they don't actually link to bank accounts. Invoices show under accounts receivable & bills show under accounts payable. Both accounts receivable (asset) & accounts payable (liability) show gross transaction amounts in the account enquiry report. Example: I save an invoice dated 01/07/2015 $100.00 net $10.00 tax $110.00 gross image I save a receipt for $110.00 dated 02/07/2015 which is the payment covering the invoice & the receipt is paying my bank account called "Business Bank". image I view the account enquiry report... The bank account "Business bank" shows me the $110.00 receipt (gross) The asset account "Accounts receivable" shows me the $110.00 invoice (gross) Note: I'm viewing the report on accrual basis & only choosing to show the bank account "Business Bank" & Accounts Receivable imageimageimage
  • Qwerty
    Qwerty Member Posts: 261
    edited March 2017
    As far as having a report to reconcile your invoices, the invoice list report will give you this information & it shows gross invoice amounts.

    Reporting > Customers > Invoice list
  • Toby Shore
    Toby Shore Member Posts: 5
    edited July 2015
    With thanks Qwerty - looks like this will solve the immediate problem but it does not appear that I can get the P+L to show Gross Numbers - will have to come up with another way...

    Best
    Toby
  • ARC BookKeeping
    ARC BookKeeping Member Posts: 168
    edited July 2015
    Toby,

    Have you tried in 'settings' 'GST Settings' (top right hand corner of your screen)

    'General' tick the box beside 'choose if amounts include GST'

    & also

    'Default Sales figures'  Change to GST inclusive.

    & Save.



    Cheers

    Angie Carlyle
  • Toby Shore
    Toby Shore Member Posts: 5
    edited July 2015
    Hi Angie

    The only settings I have in the top right is "Tax Settings" [no general GST Settings] - have selected "choose if amounts include tax" but still doesn't help me with the P+L Reports etc as they continue to show Net - interestingly however if a select Tax Tracking "Disabled" it only shows me the Net Amount without the GST component.  Seems to me that there is no way to show the Gross Amount in the reports unless I record all transactions without a GST Component which is obviously not optimal.

    Thanks for the assistance.
    Best
    Toby