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chals's avatar
chals
Experienced Cover User
4 years ago
Solved

Dealing with negative amount in PAYG Clearing account

Hi,

I've  moved from AccountEdge to AccountRight from 1/7/20. I paid my BAS after the 1/7/20. This of course included PAYG Withholding amounts. I use BASlink and Pay Liabilities. 

I recorded the PAYG Withholding amounts in  Spend Money allocating it to the PAYG Clearing account but have been left with a negative amount as I can't use the Pay Liabilities option. 

 

Should I leave the negative amount? 

Should I allocate it to a different account? 

 

Any help much appreciated.

 

PAYG Witholding Payliabilites
  • Tracey_H's avatar
    Tracey_H
    4 years ago

    Hi chals 

     

     

    Thanks for your post and apologies for the delay in replying. Generally speaking, you would need to enter these amounts as Opening balances in AccountRight. This help article will guide you through this process: Enter account opening balances 

     

    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.

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  • chals's avatar
    chals
    Experienced Cover User
    4 years ago

    Can I correct this by giving the PAYG Withholding account a pre-conversion opening balance, then recording a Journal Entry to clear the amount. Can someone talk me through this please?

  • Tracey_H's avatar
    Tracey_H
    Former Staff
    4 years ago

    Hi chals 

     

     

    Thanks for your post and apologies for the delay in replying. Generally speaking, you would need to enter these amounts as Opening balances in AccountRight. This help article will guide you through this process: Enter account opening balances 

     

    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.