Reckon Accounts Desktop: Paid Amount differ from the Original Amount on Tax Detail Reports

Legacy KB ID: 3763

Question

Why does the Paid Amount differ from the Original Amount for some entries on Tax Detail Reports (Cash Net) and (Cash Tax)?

Answer

This error occurs when reducing the value of a tax invoice with an item that has a different tax code to the line above it. 

Reckon Accounts will only handle the negative number correctly if the reducing item:

  1. Has the same tax code as the line above it, or
  2. Is configured as a Discount Item. 

Solution

Use the same tax code on the reducing item as the item above it on the Tax Invoice, or create a discount item.

If you have to use a different tax code to the line above, then process the reduction as an Adjustment Note. 

To Process and apply an Adjustment Note:

  1. In the Customer Centre, click on New Transactions and then Adjustment Note/Refunds.
  2. Select your Customer and complete the form using a Service Item for the reduction and selecting any sales side tax code other than ADJ.
  3. Select Save and Close.
  4. Issue the invoice for the normal items but do not send it to the customer.
  5. In the Customer Centre, click on New Transactions and select Receive Payment.
  6. Apply the Adjustment Note against the Tax Invoice.
  7. Issue a Statement to the Customer, showing the details of the invoice and the application of the Adjustment Note.
  8. Send the customer the Tax Invoice with the Statement. 

 To setup a Discount item:

  1. Open up the Lists menu, and select the Item List.
  2. Right-Click on the list, and select New.
  3. Set the Type as Discount.
  4. Set the Item Name as Discount or Reduction.
  5. Either set a percentage here, or leave the field blank (if this is variable per Invoice).
  6. Set a relevant Expense account (eg. Discounts Allowed).
  7. You can leave the tax code blank, or fill it with a relevant tax code (discounts are applied before taxes).
  8. Open the invoice, and add the Discount, setting the percentage to reduce the total cost of an invoice.

How did we do?

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