Payable with Tax report
What is Payable with Tax report and how can i reconcile this with the Payables reconciliation report.
Under what circumstances can the amount mentioned in the Payable with tax report for a Supp...
Forum Discussion
Hi Vivek123,
The "Payables with Tax" report shows your payables and the GST amounts together, making tax reporting and reconciliation easier. Meanwhile, the "Payables Reconciliation" report is all about matching up supplier balances with account balances in your payable accounts, but it doesn't provide GST details. For more info, check out the sales reports description on this link.
Cheers,
Princess
Thanks Princess for your reply.
If this is the case why will the balance amount in the payables reconciliation for a supplier not match with the balance shown in the Payables with Tax report for the same supplier.
Cheers Vivek
Hi Vivek123,
That's a great follow-up question. The discrepancy between the Payables Reconciliation report and the Payables with Tax report comes down to how each handles data. The Reconciliation report shows the outstanding balance as of a specific date, while the Payables with Tax report includes tax components and any open transactions, even if they are future-dated or not fully posted.
The reports can reflect different balances because they filter transactions differently, especially when tax codes or future-dated entries are involved. To reconcile these reports, ensure the date ranges are aligned and look for any partially applied or future-dated transactions. If they still don't match up, it might be best to seek help from online assistance.
Regards,
Genreve
