Trade Creditors not balancing - out by GST amounts

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Trade Creditors not balancing - out by GST amounts

We upgraded to AccountRight Live in June and have had a problem with a number of purchase entries/payments.

 

We have entered the purchase as normal, with GST and paid the invoice. However the GST amounts are not showing in the Recap Transaction screen, and now the Trade Creditors are out by the GST amounts of a handful of invoices.

 

Most other entries are working fine. I can't see any issues with the set up.

 

 

Any help would be appreciated.

 

 

 

 

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MYOB Moderator
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MYOB Moderator
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Re: Trade Creditors not balancing - out by GST amounts

Hi @Strawberry55

 

Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge

The only way I was able to replicate what you have shown in the Recap Transaction of that Purchase transaction is to have your GST Tax Paid linked account set to be the Expenses account. I would recommend going to Lists>>Tax Codes>>Selecting the GST (tax code) and ensuring that you have a suitable linked account for Tax Paid, ideally it should be set to be a liability account such as 2-1220 GST Paid. You might want to also check the tax code PR1 as well.

 

Based on my testing this will correct the transactions going further you would be looking at deleting and redoing those older transactions that have been recorded incorrectly. 

 

I also tested the Payables Reconciliation and in my testing recording a transaction with the incorrect linked account shouldn't impact that reconciliation as such I would encouraging you to take a look at Help Article: Receivables, payables or inventory out of balance in regards to finding that out of balance cause.

Do let us know how you get on and if you require further assistance.

Kind regards,
Steven

MYOB Community Support

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