GST account and Balance sheet

Hi,

I have only just started using Manager and am trying to move from MYOB. I currently have them working side by side. I seem to have a difference in the Balance sheet GST account compared to the Tax Summary in Manager. All the Tax summary figures in Manager agree with my MYOB input for the 1st quarter. Any suggestions on where to look in Manager for the Balance sheet difference to the Tax summary figures?

My GST work sheet also has machine writing above the actual sheet information. Have I missed a update since July 2020?

To see what version number of Manager you are using see this guide
Software Version: Determine version number

Did you enter the starting balance for the GST balance sheet account?

1 Like

Hi,

There was no starting balance. I have started as at 1July 2020.

My version is 18-3-48

That version is about 2.5 yrs old. Hundreds of changes have occurred since then making clear support more difficult. The more notable changes are listed here https://www.manager.io/releases/

I suggest making an archived backup then upgrading to the current version from here https://www.manager.io/download/

Was your GST liability really zero on that date. That would be the case if you started your physical business after that date. If however you used another accounting system prior to that date, then many accounts are likely to have required a starting balance see this guide
Starting Balances: Set start date | Enter starting balances

Edit
Look at the closing balances in MYOB for the 2019/2020 FY, these will need to become the starting balances in Manager to ensure balance sheet accounts match at the start of the 2020/2021 FY in both packages.

Your initial post stated that you were moving to Manager from MYOB. This would indicate that there would most likely be a starting GST balance at 30June for your end of June BAS return. That is why I asked the question.

Hi,

Yes but I put that in the Balance sheet as prior period GST adjustments. I was expecting the Manager balance sheet to reflect the current ¼ GST calculation. When I look at the Tax summary report for the period 1/7/20-30/09/20 it matches the MYOB report but when I go to the Manager Balance sheet for the 30/09/20 and click on the GST Payable amount it is not the same by $61.85 more and I need to know where to go to investigate this difference.

Many thanks

Felicity

Hi,

Sorry I looked at the wrong thing. It is 20-7-55

Thanks

Felicity

@vearfj, the things you’ve said are contradictory in several ways or indicate you are using Manager incorrectly. You’ve said there were no starting balances, then there were. You apparently have a tax summary in Manager that matches MYOB, but then you say it is different. You did not enter starting balances, but you expect Manager’s current balance sheet to match that from a prior, and evidently still ongoing, accounting system. Through it all, you basically are asking others to tell you what is wrong with your accounting when they cannot see your transactions. And, if you just started using Manager, but downloaded v18.3.48 from somewhere recently, it’s definitely possible you were using a counterfeit version.

I you are going to migrate to Manager from your prior system, you must do two things, and do them correctly:

If you are running parallel accounting systems, you must understand that they do not work identically. Each must be used according to the way it was designed. Only then can they produce equivalent results. If they generate discrepancies, only you can dive into the transactions entered in both to understand why.

Hi,

Thanks for your info but you have misunderstood the issue.

Regards

Felicity

It is not a GST adjustment.

I presume that an amount for the June quarter BAS was either received from or paid to the ATO some time in July. Was this amount directed to the GST balance sheet account? Is that amount equal to the discrepancy amount of 61.85 that you mention?

Follow the steps suggested by @Tut and if a discrepancy remains after that send a follow up query with more detail, preferably with screen shots.

1 Like

@vearfj, if any forum member misunderstands your issue, it is your responsibility to clarify it.

Hi,

The GST for the last ¼ was not equal to the $61.85.

I am finding Tut a bit aggressive in their response.

My version is 20-7-55 ( I looked at the wrong thing I looked at the example in error) I only downloaded Manager in July 2020 it is not a counterfeit version. I have been following the guides and believe that I have set up Manager as described. I am only asking if anyone can assist in where I can look for an error I am not asking for what is wrong with the accounting system. I know that MYOB is set up different to Manager that is why I am running them in tandem before I make the change.

In my mind the two areas dealing with the GST should reflect the same figures. I only put the last ¼ GST into another area of the Balance sheet to verify what Manager was doing in comparison to MYOB with respect to this ¼.

Thanks

Felicity

You need to show screenshots of what you think is incorrect

Just saying this is wrong or that is wrong will not enable anyone to help you understand what is happening in your system

Remember no one can see what you are asking about

Hi,

Thanks for all your help. I have found it.

Regards

Felicity