Some transactions missing from Taxable Payments Annual Report

Legacy KB ID: 4992

Question

Why are some transactions missing from the Taxable Payments Annual Report?

 

Answer

Re-enter any General Journal transactions to a Supplier account through an acceptable form.


Cause:

The Taxable Payments Annual Report cannot capture all types of transactions. 

Payments entered by General Journal will not be captured. 

Bill Payments, Credit Note Payments, Credit Notes, and Write Cheques are captured.

 

Detailed Instructions

Re-enter any General Journal transactions to a Supplier account through an acceptable form.  You may need to use a Clearing Account. 

 

Example

Supplier Bill paid directly from the proceeds of a new Bank Loan.

General Journal Entry was:

1.    Dr Accounts Payable – Supplier1 - $10,000

2.    Cr Bank Loan Account - …………... - $10,000

Required transactions for TPAR:

1.    New Accounts

a.    Create a Bank Loan Account (opening balance NIL)

b.    Create a Bank Clearing Account (opening balance NIL)

2.    Pay the bill with funds from the Bank Clearing Account

3.    Transfer funds from the Bank Loan Account to a Bank Clearing Account:

a.    Banking > Transfer Funds

b.    Transfer Funds From: Bank Loan Account

c.    Transfer Funds To: Bank Clearing Account

d.    Transfer Amt:  $10,000.

All transactions should now appear on the TPAR report.

Need more help?

Ask the Reckon Community at: https://community.reckon.com/

 

How did we do?

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Error - Unable to create the folder L\ - when creating the Taxable Payments export file

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