Hi, we are having regular issues with a client file where the payables with tax reports shows an out of balance amount, however the payables reconcilation report doesn't. Upon looking into the variance, there is no reason for it, that is the invoice in question was paid post report date, but something is causing it to impact the report.
The client does not use foreign currency.
Hi Nicole_P
There are 2 bugs in the Payables with Tax report that affect accuracy - how gains/losses on foreign currencies are handles, and how finance charges are handled. As you do not use multiple currencies, you should look at the linked account for finance charges for a transaction connected with your discrepancy.
Perhaps check for future dated payments as well.
Regards
Gavin
Thanks Gavin, howeve it is not due to a finance charge. It is simply an invoice which is dated pre 30 June 2023 and paid in July 2023. The invoice shows on the payables reconciliation report but does not appear on the payables with tax report.
Hi Nicole_P
Thank you for your post.
May I know if you are using the latest version of the software, and does your file has multi-currency enabled?
And as per gavin12345 response to your post, As the files in live version with multi currency enabled, "Payables with tax' report does not show an out of balance amount by the "currency gain/loss amount". However, if you do not use multi currency, then it would be recommended to check on this Help Article: Receivables,Payables or inventory out of balance. This articles contains more information and you can use this as reference.
If you need further assistance with this. Please feel free to post again and we're happy to assist you.
Thanks
Cel
