Software bug: Online banking | transaction rules

Jay Garland
Jay Garland Member Posts: 130 ✭
edited February 2020 in Accounts Hosted
For PRIVATE expenses I don't use a tax code as I don't want it reporting on my BAS.

Here's what I've set-up for processing my utility bills in TRANSACTION RULES. The two line entries with CLASS = PRIVATE have no tax code as I don't want them appearing on my BAS report.
image

When the transaction is MATCHED, it incorrectly adds tax codes.image

This means that I need to double check everything that is automatically matched as what's setup in TRANSACTION RULES isn't correctly used in creating the transaction from the downloaded bank data.

Comments

  • Shane_6461899
    Shane_6461899 Reckon Staff Posts: 339 Reckon Staff
    edited February 2020
    Hi Jay,

    Have a look in the chart of accounts, at the setup of the Utilities expense account.  Does it have NCF as the default tax code?  If so remove that and leave it blank and save that.  Then it should only add NCF where you have told it to in the transaction rule.  

    Let me know if that helps.
    Regards,
    Shane.
  • Shirley Ingle
    Shirley Ingle Accredited Partner Posts: 138 Accredited Partner Accredited Partner
    edited November 2017
    Jay  If it is Private, why would you code something to Utilities or anything else you have classed as Private. Do you realize if you look at your Profit and Loss report, the Private amount for Utilities will show there thus reporting a wrong bottom line. Anything Private should be coded to Drawings or a Loan account depending what your business is, Company, Sole Trader or Partnership. In any case Drawings or Loan Account type is Equity or Other Current Liabilities.
  • Jay Garland
    Jay Garland Member Posts: 130 ✭
    edited November 2016
    Thanks Shirley. I run my P&Ls by class, so anything that's PRIVATE doesn't really matter where it's coded. That being said, you're right - it should be coded as DRAWINGS.
  • Jay Garland
    Jay Garland Member Posts: 130 ✭
    edited November 2016
    I went back into Reckon and generated a P&L by class. I find it actually useful to have the PRIVATE column with the matching account entries so I can see (e.g. with UTILITIES), what % went to each business and what was private. It's neat how everything is on one line. I think I'll leave my set-up as it is for now. Thanks.
  • Jay Garland
    Jay Garland Member Posts: 130 ✭
    edited November 2016
    Yes - it does have the default tax code as NCF. Is there a way to get this to work without having to change the default tax code? My preference is to leave it so when I'm paying and entering a utility, it will select the correct NCF code. It's only with one automated payment that I'm using the set-up shown above. I'm concerned that if I change it to blank, then I may forget to set it when manually entering other entries.

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