Memorised Percentage Split transactions calculate GST incorrectly

Legacy KB ID: 4921

Question

Why are percentage splits in Reckon Accounts Personal (formerly Quicken) no longer calculating correctly?

Answer

You will find that the GST calculates incorrectly on memorized percentage split transactions after you have used an amount significantly larger or smaller than the original memorized transaction.  The error will increase with subsequent transactions. 

It appears that when percentage splits are used, the GST rate used is not the exact 10% but the rate between the posted GST amount and the posted net amount.  The difference between this rate and the exact 10% is memorised and added to the next transaction. 

Although the total of the transaction is correct, the split between Net and GST deviates from the exact 10% rate. 

Workaround

Delete the memorized percentage split transaction and recreate it.

1.    Tools > Memorised Payee List;

2.    Highlight the memorised transaction and click on Delete;

3.    Create the transaction again and memorise it.