Tax is not being posted to the tax control account, my tax amounts are not correct.

Legacy KB ID: 3228

Question

Why does my BAS show more or less tax in Reckon Home and Business? My tax is not calculated correctly.

Answer

To enter transactions that have a tax code assigned such as GST do the step through the following:

Note - This article refers to the 'Reckon Home and Business User Guide' found on every relevant CDROM in PDF format for your convenience


The following extract can be found on pages 95 to 96 of the Reckon Home and Business User Guide.

1. Open the register for an account that you use to enter purchases.

2. Enter the following:

        i. (Optional) Number

       ii. Payee

      iii. Payment

3. Click 'Split'

Home and Business will display the display the Split Transaction window.

Hint - If you do not wish Home & Business to calculate the tax amount automatically using the amount you enter as gross (tax inclusive amount), clear the Amts incl tax check box at the base of the Split Transaction window.

4.  Select a category from the drop-down list in the Category column.

5. (Optional) Press Tab and enter a memo for the transaction if you have not already entered one. Home & Business calculates the relevant tax information based on the category chosen

once you press the Tab key.

6. Check to see that the Split Total equals the total of the amount and tax for that split line. If it doesn't, click Adjust. Note that if you have the Amts incl tax check box ticked, Home & Business will change

the amount you entered to be the non GST element.

 7. Click Enter to record the transaction. The *Tax Control* account will now reflect a decrease in GST liability for the transaction above.

* Following this proceedure will ensure that tax is posted correctly to the tax control account

Need more help?

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

How did we do?

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