QBwin.log Error: Verify Name Balance failed. Name = Australian Taxation Office
Why do I receive an error: Verify Name Balance failed. Name = Australian Taxation Office when attempting to verify my QuickBooks data file?
This error will be generated under one of two conditions:
· You have a Sales Tax Payable account (usually created in a very old version of QuickBooks and now inactive) setup as a separate account from Tax Payable;
· The Tax Payable account (or its re-named equivalent) is corrupt.
Each time a Verify is performed, QuickBooks detects that there is a problem.
The error refers to the Australian Taxation Office supplier having a List Balance not equal to the Calculated Balance. Once the file is rebuilt, the error is corrected. However, when you create a new transaction and verify the data again, the same error appears.
In pre 2002 versions, you could customise the operation of the Tax Payable account, and you may have used a Sales Tax Payable account separate to Tax Payable. In more recent versions, the link between the Sales Tax Payable account and the Supplier Australian Taxation Office has become corrupt so the balance of the Sales Tax Payable is not registered with the Australian Taxation Office. A verify identifies the difference and generates this error.
If your file was begun after 2002 then you are unlikely to experience this error. More likely the Tax Payable account is corrupt and recent transactions cannot be accessed. The sign of this error is the inability of a QuickReport to show the recent entries to the Tax Payable account. A verify will identify a difference between the calculated balance and a List balance.
Check for Sales Tax Payable and make it a subaccount of Tax Payable
- From the Edit menu, select Preferences
- Select the Accounting icon and click the Company Preferences
- Tick Use account numbers from the Accounts box
- Click OK
- From the List menu, select Chart of Accounts
- Tick Include inactive below the list
7. Locate any hidden tax related accounts such as Sales Tax Payable
(In some instances, both accounts will have the same Account number )
*Note: If there are no transactions associated with Sales Tax Payable, it can be deleted.
To confirm whether transactions exist:
1. Right click the account and select: QuickReport: Sales Tax Payable
2. Change the Date Range to All
3. If no transactions exist, go to the Chart of Accounts and select Sales Tax Payable
4. From the Edit menu, select Delete Account
5. If a balance exists, continue through to step 8
- Edit the Sales Tax Payable Account so that it becomes a sub-account of the Tax Payable account
- Rebuild the data file
- Enter a new dummy Tax Invoice that uses a Tax Code (GST)
- Verify the file and confirm that there are no errors detected
- If no errors are detected, delete the dummy Tax Invoice.
Repairing a corrupt Tax Payable account
1. Create a new QuickBooks data file:
File > New Company > Skip Interview > Name for the file: Test > July > Industry: Other/None;
2. Create an export file for the Chart of Accounts:
1. File > Utilities > Export > Lists to IIF Files
2. Tick Chart of Accounts and click OK;
3. Name the file; eg: COA.IIF, and save to a convenient location like the Desktop;
3. If you have changed the name of your Tax Payable account to something like GST Payable, then you must modify the IIF file:
1. Right-click the COA.IIF file (on the Desktop) and select Open With and choose Excel
2. Find the Tax Payable entry and change it to exactly what you have in your company file; eg: GST Payable;
3. Save and Close the file – enter the full name: COA.IIF, and say YES to “Do you want to keep the workbook in this format?” the file will save as COA.IIF.txt
4. Rename the file to COA.IIF by deleting the .txt.
4. If you do not want all the accounts of the New File, you can delete them in the IIF file. You must have at least 4 lines:
4. ACCOUNT GST Payable
5. Open your company file and import the COA IIF file:
1. File > Utilities > Import > IIF Files
2. Select the COA.IIF file > Open
3. Your Tax Payable account will be overwritten.
6. Test the operation of the Tax Payable Account:
1. Enter a new dummy Tax Invoice that uses a Tax Code (GST);
2. Verify the file and confirm that there are no errors detected;
3. If no errors are detected, delete the dummy Tax Invoice.