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Why the Payables with Tax report is out of balance but the Reconciliations report is not

Nicole_P

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.

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Nicole_P

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.

gavin12345

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