Tax information Reconcilliation Summary report

Question

Hi everyone. With GST, we went from cash to accrual based. There was a manual adjustment made when lodging the next BAS. Now my Tax information reconciliation report does not balance. Can this be rectified? Copy of the report attached .

Tax Information Reconciliation [Summary].pdf

RRS · Answer

Hi Genreve

Thank you for your reply, greatly appreciated.

It definitely is related to a payment made to ATO re the change from cash to accruals. What I don't understand is how I correct the report. There were additional payments / refunds needed, where else would this be coded?

Alison

Genreve_S · Answer

Hi @RRS,

Thanks for including a screenshot in your post.

The difference usually means something has been posted straight to the GST Collected or GST Paid accounts, often after a manual adjustment or journal.

Since you changed from cash to accrual, I’d check:

* any manual journals entered around that time
* the BAS payment or refund transaction
* whether anything was coded directly to GST Collected or GST Paid

If you find one, that entry may need to be reversed or recoded, then run the report again.

If you’re not sure about changing a lodged BAS entry, it’s best to check with your accountant or BAS agent first.

Regards,
Genreve