Article ID: 9085

The Sales Tax Journal Does not Reconcile to the G/L Sales Tax Payable (2450) Account

Problem Description:

The Sales Tax Journal does not reconcile to the G/L Sales Tax Payable (2450) account for all dates.

The Sales Tax Journal reconciles to the G/L Sales Tax Payable (2450) account only for the current period because the Sales Tax Journal does not record remittance checks (cheques) or refunds.

Suggested Actions:

Use the following guidelines to determine when the Sales Tax Journal can reconcile to the G/L Sales Tax Payable (2450) account:

  • The Balance (213) line of the Sales Tax Journal can only reconcile to the G/L Sales Tax Payable (2450) account if the following conditions are true:
  • You post the remittance check or refund for the previous reporting period to the G/L Sales Tax Payable (2450) account through the General Cheque or Firm Receipt feature
  • There is not an unpaid balance from the previous period (The Sales Tax Journal summary does not reflect previous balances)
  • You run the Sales Tax Journal for the current remittance period only