Good day im trying to reconcile my tax payable but when i click on create it does not want what am i doing wrong
This was a bug introduced in a recent version.
It has been corrected in the latest version
You do not say what version you are using
im using 21.2.4 i think
The version number is listed at the bottom of each screen in light grey
You should probably update to the latest version and see if that gets rid of the bug you are experiencing
its still persisting it does not want to create a journal
I am also trying to figure out why you are trying to “reconcile” your Tax payable account with a journal entry involving Member’s loan. The only entries you should ever post directly to that account should be payments when you pay amounts you owe to the tax authority or receipts if you should happen to receive money from the tax authority.
Please do not introduce a different transaction to the the discussion. That makes it hard to understand what is happening.
its still does not want
What sort of account is member’s Loan?
Show a list of your Chart of Accounts
And your tax fines.
im trying to balance my vat it shows a difference so I was thinking of creating a journal debit tax expense and credit members loan
these difference came about when we load on vat report on our tax systems some times it comes out with difference at cents now those cents have accumulated now I want to do a recon
Yes, this happens to me also, and I just create a journal entry to set the tax liability to zero after payment.
If you lock your dates after each tax filing and ensure no backdated entries hit your taxes payable, then there’s no need to reconciles, just work from the balance sheet since the first filing, set the VAT liability to zero using a journal and then go to the next period.
Set a lock date in Settings. Read the Guide.
First here is your resource to locking periods.
Second, you shouldn’t start from the most recent tax period.
Instead, you should start from the earliest tax period differences occur, ensure the difference is just a rounding difference and not something else, make your corrections and then move to the next.
Also, next time you file your taxes make sure that you take a copy of the tax summary report and tax transactions and save them in an excel sheet for future reference.
Then move to the next.
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