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GST Reconciliation Report out of balance

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Blah
4 Posts
User
New Zealand

GST Reconciliation Report out of balance

I have inherited an myob from from the person who did my job before me and the GST collected is out of balance by
-$2,556,996.84 while the GST Paid is out of balance by $2,162,529.22.  Is there a journal entry (or anything else) I can do to get this report balancing back to zero so that moving forward I can know that the work I am doing balances correctly?  I know I can monitor these existing balances to make sure they don't shift, but what a hassle.  Also, i'm a bit **bleep** retentive and thus I'm really wanting a zero base to work off.

1 REPLY
MYOB Moderator CloverQ
5,798 Posts
MYOB Moderator
Australia

Re: GST Reconciliation Report out of balance

Hi @Blah

 

Assuming when you run the Tax Information Reconciliation report, there is an out of balance amount showing, there are varies of reason to cause the out of balance.

 

I would suggest following this support note to determine the cause, and fix the out of balance: Out of balance in the tax information reconciliation report

 

Hope this helps. Please feel free to post again if you have more queries. 


Kind regards,
Clover
MYOB Client Support
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