GST Balance Account not reconciling

[JackieW]

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.  

[JackieW]

In regards to my original post I have found that the GST Report and the Business Activity Statement report have different in amounts for GST on purchases - the difference is the 0.02c I am out.    Why would these reports be different ?????

[SamaraM]

Hi @JackieW 

Sorry to see that no one has replied to you yet. Sometimes there may be a report display issue or missing linked account to a tax code causing the GST report to not show as expected.

Can you try the following:

1) Click into Accounting -> Tax Codes -> Check that all of the relevant fields under; account for tax collected and account for tax paid, have a linked account listed. (some won't be necessary like consolidated and input tax).

2) Cached information can occasionally become damaged and result in unusual behaviour or information being shown. To force the browser to take a fresh copy of the information, can you switch to Google Chrome, or if you are already using it clear the cache. 

3)  Could you narrow down the date range; so if you have it run for 3 months, reduce to a month, then a week, then a few days, until you find the specific date the extra $0.02 appears which will help us find which transaction is causing the issue, and fix it if its entered incorrectly.

If the above troubleshooting does not help feel free to attach the reports (redacting any sensitive information)  in your reply, (or send as a private message) so I can investigate for you. 

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

[JackieW]

Samara I have found the first day that the balances are different as per your suggestion.   There must be other errors as the first difference in only out 0.01c.  I cannot see anything incorrect in posting the transactions on that day.  My bank account reconciles.

I have attached the quarterly reports BAS & GST Report so you can see the difference.  I have also included the detailed transactions for the 3 October 21 and the GST return report for the same day.