Recap Transaction GST different to GST in Ledger

Contributing User LJHolt
28 Posts
Contributing User
New Zealand

Recap Transaction GST different to GST in Ledger

Hello,

We have just started charging freight on our orders.

Now come to do the GST return and there is major issues:

 

Recap Transaction for Sale shows:

4-1000 Sales   $99.00 (GST $14.85)

5-3200 Freight Recovered $8.00 (GST $1.20)

 

So Total GST 2-3110 GST Collected $16.05 as the recap transaction shows.

 

However when checking the 2-3110 GST Collected Ledger the only amount showing is $14.85.... where is the rest?????

 

Need help ASAP

6 REPLIES
MYOB Moderator Steven_M
18,807 Posts
MYOB Moderator
New Zealand

Re: Recap Transaction GST different to GST in Ledger

Hi @LJHolt

 

A recap of the transaction will show the transaction as it is now whereas the Transaction Journal will show what it was recorded with. This does mean that if a change was made to the transaction before you did the recap and before the transaction has been saved it would not be the same journal.  

 

Please note you have to force a refresh on the transaction for that transaction for the values to match this is commonly done by adding a full stop to the end of the journal memo.

 

Do let us know how you get on and if you require further assistance.


Kind Regards,
Steven
MYOB Client Support
Contributing User LJHolt
28 Posts
Contributing User
New Zealand

Re: Recap Transaction GST different to GST in Ledger

Hello @Steven_M,

 

This makes sense - the issue is where no tax code is entered when the transaction is initially recorded.

Upon going back into invoice it defaults to standard tax which is correct but obviously the transaction in the GST collected ledger takes the first record of no tax.

 

How can I force a refresh - opening the transaction from GST ledger just brings me to invoice and in transaction journal I am unable to edit the transaction.

 

Levi 

MYOB Staff Post RienaP
1,307 Posts
MYOB Staff Post
New Zealand

Re: Recap Transaction GST different to GST in Ledger

Hi @LJHolt,

 

When you wrote the invoice there is also a GST code to write for GST. If you can please check if it has captured the right GST.

 

To change the transaction, you will need to change your "preferences" under Setup menu>>Preferences>>Security>>untick "Transactions CAN'T be Changed; They Must be Reversed [System-wide]. Unticking this preference will allow you to change the transactions in the system. 

 

Hope this helps and let us know if you have any further queries.

 

 


Regards,
Riena
MYOB Training Specialist
Contributing User LJHolt
28 Posts
Contributing User
New Zealand

Re: Recap Transaction GST different to GST in Ledger

Hello @RienaP

 

I have just had a chance to look at this.

Yes every invoice concerned now has correct GST captured. Invoice total is correct but I cannot refresh transaction in MYOB Transaction Journal so my GST Ledger is still incorrect.

 

Glad of any futhur tips.....

Ultimate Partner ronatbas
3,608 Posts
Ultimate Partner
Australia

Re: Recap Transaction GST different to GST in Ledger

@LJHolt@RienaP@Steven_M

 

I think that you have something wrong with your chart of accounts. Freight recovered is an income stream yet your recap shows that it is going to an expense account. You may be looking for the GST on the wrong side of the ledger as it will probably be showing as a credit.

Ron B
BAS Group
03 95588477

info@basgroup.com.au
Making MYOB work for you
MYOB Staff Post RienaP
1,307 Posts
MYOB Staff Post
New Zealand

Re: Recap Transaction GST different to GST in Ledger

Hi @LJHolt,

 

Many thanks to @ronatbas for his input and insight. Very much appreciated!

 

I think it would be a great idea to check the Chart of Accounts and would be great to see a screen capture so we can help you further. 

 

Looking forward to hearing from you. 


Regards,
Riena
MYOB Training Specialist
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