Tax Payable on Balance Sheet

Options
Norma Whittaker
Norma Whittaker Member Posts: 6 ✭
edited December 2017 in Reckon Accounts (Desktop)
The Tax Payable account and balance is not showing on the Balance Sheet! Have checked over the set up etc. If I post to the Tax Payable account by general journal that amount only shows on the balance sheet.

Comments

  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
    Options
    Hi Norma,

    Welcome to the Reckon Community.

    If you set the date range to all, does the Tax Payable account appear?
    Do you have a Tax Payable account and amount on a Balance Sheet Detail Rep

    Let me know.

    regards,
    John
  • Norma Whittaker
    Norma Whittaker Member Posts: 6 ✭
    edited May 2014
    Options

    Hi John

    Set the date range to All and the Tax Payable account appears with only the two general journal entries showing a balance of -$10639

    This is the same for the Balance Sheet Detailed Report

    Is there a tick box in the set up which can include/exclude an account from appearing on the balance sheet??

    Many thanks

    Norma

     

  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
    Options
    Thanks Norma,

    A few more questions:

    Go to your Supplier Centre and right-click the Australian Taxation Office and select Edit.
    Is the box Supplier is a Tax Agency ticked?

    Click on the Tax Agency Info tab - what is the account in the last two boxes for tracking Tax?


    regards,
    John



  • Norma Whittaker
    Norma Whittaker Member Posts: 6 ✭
    edited May 2014
    Options

    HI John

    Yes the Tax Agency box is ticked and the tracking tax boxes are 2-5500 Tax Payable account for sales and purchases.

    Cheers, Norma

  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
    Options
    Thanks Norma,

    and you have transactions that have included Tax codes?

    You'd best resort your lists, rebuild and verify your file.  Repeat rebuild and verify until a "no errors found" message is received.  A guide is available at 
    https://community.reckon.com.au/reckon/topics/rebuilding_a_datafile_in_accounts_business


    Hope this resolves your issue.

    regards,
    John


  • Norma Whittaker
    Norma Whittaker Member Posts: 6 ✭
    edited May 2014
    Options

    Hi John

    Yes I have transactions that include Tax Codes.  The register of 2-5500 Tax Payable is correct and the Tax Reports to complete the BAS are correct and it all reconciles.  The amount just does not show on the Balance Sheet.

    Will let you know if the issue is resolved.

    Cheers, N

  • Norma Whittaker
    Norma Whittaker Member Posts: 6 ✭
    edited May 2014
    Options

    Hi John

    I have completed 15 verify and rebuilds and the message I receive on completion is - Rebuild has completed.  The Tax Payable amount still does not show on the Balance Sheet.

    Any other suggestions

    Cheers, N

  • Graham Boast
    Graham Boast Accredited Partner Posts: 331 Accredited Partner Accredited Partner
    edited December 2017
    Options
    Hi Norma

    When you run the Balance Sheet, Does it say "Cash Basis".  If so, Change the reporting preferences in Edit > Preferences > Reports & Graphs > Company Preferences as follows:

    Default Reporting = Accrual and Net.  (irrespective of whether Cash or Accrual GST)

    The behaviour you describe is consistent with a Cash setting and no Cash transactions to report yet.

    Graham Boast
    Reckon Accredited Partner
    graham@reckonhelp.com.au


    Graham Boast | 0409 317366 | graham@reckonhelp.com.au

  • Norma Whittaker
    Norma Whittaker Member Posts: 6 ✭
    edited May 2020
    Options

    Many thanks Graham

    The report basis was Accrual and gross - changing it to net has included the Tax Payable on the Balance Sheet. Hooray!!

    I will sleep better tonight

    Cheers, N

  • Accounts @ Fincor
    Accounts @ Fincor Member Posts: 1 ✭
    edited June 2016
    Options
    Graham,

    Thank God for you!

    You have saved my life!

    The pressure was on and I have found this post get the Tax Payable to pull through to the Balance Sheet!

    A million times thank you :-)))


Categories