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I have inherited an myob from from the person who did my job before me and the GST collected is out of balance by
-$2,556,996.84 while the GST Paid is out of balance by $2,162,529.22. Is there a journal entry (or anything else) I can do to get this report balancing back to zero so that moving forward I can know that the work I am doing balances correctly? I know I can monitor these existing balances to make sure they don't shift, but what a hassle. Also, i'm a bit **bleep** retentive and thus I'm really wanting a zero base to work off.
Assuming when you run the Tax Information Reconciliation report, there is an out of balance amount showing, there are varies of reason to cause the out of balance.
I would suggest following this support note to determine the cause, and fix the out of balance: Out of balance in the tax information reconciliation report.
Hope this helps. Please feel free to post again if you have more queries.