Tax Payble in Balance sheet shows total GST paid since beginning of time - Not the actual current am

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Paul Warburton_9169039
Paul Warburton_9169039 Member Posts: 1 ✭
edited January 2020 in Reckon Accounts (Desktop)
The tax payable amount on the balance sheet is showing the total tax (GST) I have paid since the company account was started. This is affecting the current liabilities etc.

From the chart of accounts, tax payble total is correct.

It appeas that the balance sheet is incorrect as surely it should be showing the same number as the tax payable account.

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  • Charley
    Charley Member Posts: 542 ✭✭✭
    edited January 2020
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    The balance sheet will be correct, what you have probably not done is pay the PAYG and GST back to that balance sheet account and thereby reducing the liability.

    I can run you through this by setting up a Header account with GST and PAYG as sub accounts. If you want you can call me on 0266834083

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