As per my previous post on the issue and @lubos suggested
The capital accounts problem I indicated in that post were negligible ~$100, however that audit reports my GST Free sales are out by a significant factor. Up $3300 from $4200 to $7500. My GST Sales are also up ~$3000. I have another contract who I invoice and they too have a more negligible $30 difference in sales allocated against their account. I’m sure when I find the problem for one, it’ll remedy the other.
I have a few of these to edit and so at this point I have only tested to see that by making this pseudo payment, the tax balances are becoming more correct.
I’ll keep working through it.
As per lubos’ suggestion, I am painstakingly going through the last 4 years of records, I am up to the end of FY17/18 and have found the first culprit, and I can confirm it’s our good friend, zero value invoices.
Drilling into it and it appears to be a follow on from Zero-amount invoices not posted to cash-basis general ledger where I have confirmed these are appearing in the general ledger, but their tax components aren’t reporting in the tax audit. If I dodgy up the invoice and leave $0.01 and make a cash payment to it, the tax audit brings in those tax amounts.
This fixes the aforementioned GST-FREE sales (I’m still working on that), but it also raising it’s head in other accounts where I have taken payment (and hence a tax) but not yet paid the commission to the other party. Due to the extremely convoluted situation of how it works and the number of these I have every week, I was attempting to try and record these and this is how I did it:
- I would record the payment from the customer and allocate the commission to the third party, nominating the tax component
- I would then record a negative amount into another account being “delayed commissions” because I had to carry these values until the company deducted them from their next payment to me.
- the following week I would acquit the delayed commissions account when it was invoiced by the third party. (again, no tax component, because that was already allocated).
At any rate, I can’t remember if these payments were an issue last time when @lubos fixed the zero balances, but they are now. These were acquitted in 20.5.17, but remain outstanding in 20.8.28 because the invoice they’re attached to balances to zero.
This has taken me 5 hours to get to the bottom of tonight, when I thought it was one set of problems with zero balances, I was going to go through and just put $0.01 on everything, but looking at this now, there’s just too many, and I don’t know how to find all the ones that need acquitting to begin with.
The way I have been doing it, going through line by line comparing day by day with resulting tables that aren’t synchronised into the same order, it’s just impossible.
Hopefully @lubos you’ll look into fixing zero balances again.
At least now I know that it wasn’t what I recorded in 20.5.17 that’s wrong, it’s definitely 20.8.28 that is showing me incorrect summaries, P&Ls and balance sheets because of these balanced invoices.