Total Sales including GST showing double on the BAS Calculation Sheet after upgrading from a pre-200

Legacy KB ID: 4790

Question

Why are my Sales figures for the G1 field doubled in the new ReckonAccounts (Quicken) edition?  Reports also show this transaction doubled.  They show correctly in the old edition (2004 and earlier).

 

Answer

You may experience this problem after upgrading a 2004 and earlier edition of Quicken that contained open invoices, to a current edition that contained open invoices, and payment of those invoices were received in the new version.

In 2005 the accounting basis of Quicken (now ReckonAccounts Personal) was changed from an accrual and cash basis to Cash Only basis.  In the upgrade any open invoices were assigned to a Customers Invoices category under Property & Debt.  The tax assignment in this transaction is being picked up by Reports and the GST Calculation Sheet.

If the payment is entered into the bank account (as all invoices are entered when paid in post 2005 editions), then the transaction has been doubled. 

 

Workaround

Enter the payment received for the invoice in the Customers Invoice account.

1.    Delete the entry in your Bank Account for this invoice

2.    Enter the payment into the Customers Invoices account under Property & Debt, and set the Transfer Account for the transaction to your bank account;

3.    Check that the original invoice entry is now offset by a payment and that payment also appears in your bank account. 

 

Please Note

Invoices issued in ReckonAccounts Personal (Quicken) are a record only transaction.  They will not appear in any Property  & Debt or Bank account.  When payment is received for the invoice, mark the invoice as paid and enter the transaction into your bank account. 

 

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