GST Not Balancing
We operate on a Cash Basis, our GST is out of balance as in the Balance Sheet, less Tax on Recievables is not matching our Summary Report (Cash Basis). Can anyone make any suggestions on where I ...
Forum Discussion
Thanks for replying Tracey.
I can confirm the ending balance on the General Ledger report is the same as the Balance Sheet.
But the General Ledger report & the GST Cash Basis Detail Report don't match up because the Cash Basis report is based on payments, where the General Ledger Report only shows sales.
The Tax Collected on the GST Detail Accrual Report matches the General Ledger Net Activity.
The General ledger report looks at transactions posted to the account and the GST reports look at amounts allocated the GST tax code, so you'll need to look for transactions in one report but not the other. For example, General journals posted directly to the GST paid/collected account.
You can also reconcile the GST accounts in the Reconcile accounts window. Enter $0.00 as the Closing Statement balance and the date as the last day of the period. Bulk tick all transactions. Then use the Receivables with Tax report to untick the unpaid transactions. The out of balance should be the total on the GST cash report.
Please let me know if you need further help.
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