GST Balance Sheet not matching GST Summary, BAS adjustment

Hi jcc012 

I'm sorry to see that no one has replied to you yet. The Balance sheet is the balance of all transactions posted to the GST liability accounts. The GST Accrual/Cash reports are filtered by the tax code selected for the transaction.

I would run the Reports>>Accounts>>General Ledger [Detail] report and compare that with the balance of the GST account on the Balance Sheet. If the ending balance is the same on that General Ledger report you can run the Reports>>GST/Sales>>GST [ Detail - Accrual] for the same period. 

Once you have those two reports you would be comparing the transactions done to both reports. In theory these should balance, if they don't you would be looking for any transactions that appear in the General Ledger report but not in the GST report. You would need to investigate those transactions to find the possible difference. Transactions posted directly to the GST liability account is a common cause of a difference.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

This may sound obviously but I thought I was on the cash accounting method on all my reports but for some reason the Accrual method was selected for the GST report.  So worth checking this just in case.

Once I went back to Cash on the GST report, the balance sheet GST numbers were out by less than $2 on GST collected and spot on for GST paid.

Hi MarkKawecki 

You are right that it is also important to check what method was chosen in pulling up the report as it affects how the system will generate the report. Thank you for sharing your insights.