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Old 08-18-2015, 08:32 PM
KristyS KristyS is offline
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Join Date: Nov 2012
Posts: 7
Recording a GST refund that includes PAYG payment

Hi all.

We don't often get GST refunds (as in probably only once or twice every couple of years) so I am unsure how to record the transaction properly and can't seem to find any information on it.

We are using Reckon Accounts Premier 2015.

Basically, we have received a refund that included our PAYGW payment for June. I have recorded the refund through Suppliers>Tax Activities>Manage Tax>Receive tax refund and entered the GST refund on one line and the PAYGW payment as a negative on the next line.

This seems to have worked in that it has recorded the PAYGW as a payment in the PAYG Tax Payable Other Liability account but when I run a 'Create Custom Liability Payments' report it shows that the June PAYGW is still owing.

Is there another way I should be recording this transaction? As far as I can remember, we have always recorded refunds this way and it has never affected the reports this way.
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Old 01-19-2016, 04:30 PM
Jeannius Jeannius is offline
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Join Date: Dec 2009
Location: NSW
Posts: 39
I think the priority is to do the PAYG payment first, via the Employees Payroll Liabilities lie you would normally, and if you can't add a negative GST to that, then do a separate Tax refund, which would mean in the bank rec. you have a deposit and a payment to tick off go balance to the bank. I write on the bank statement the 2 separate amounts, debit and credit, and cross out the actual entry.
It is not a neat way of doing it, but it works. I would be interested in a better way too.
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