JackieW
3 years agoTrusted Cover User
GST Balance Account not reconciling
I normally use AccountRight however one of my clients is now using Essentials. Everthing has gone smoothly until I tried to reconcile the GST Balance Account to the GST $ on the BAS. I am frustratingly out 0.02c. I know this is an insignificant amount however I want to understand why or resolve whatever is causing this. I have reconciled the normal bank accounts without any issues.
When I posted my BAS payment:
2-1212 GST Balance A/c GST on Sales $38,124.54CR
2-1212 GST Balance A/C GST 0n Purchases $24,084.58Dr
8-0040 Fuel Tax Credits $268Dr
4-9990 Adjust & Rounding $0.04c Cr
Payment due to ATO $13,772.00
I am trying to reconcile to (Tax Collected less Tax Paid which equals) $14,0399.96 but the calculated balance is saying it should be $14,0399.98
I used the amounts showing on Business Activity Statement Report. I used the GL detail report and ticked everything off but I cannot find why I am out this 0.02c
I am not charging my client for my time as I feel I should be competent is using Essentials so any help would be very much appreciated.