Program Doubling GST/HST Owing (Refund) Amount

Posted By RossH over 10 years ago

Hi, I'm setting up a new company and have gotten stuck in the Liabilities section of my chart of accounts.

I've been given only two amounts to put in for this sections: GST/HST Adjustments and ITC Adjustments. I've put in the GST/HST Adjustment as a positive number and the ITC as a negative. I am getting the correct amount in the GST/HST Owing (Refund) account, but I keep getting an error message that reads "In the General module, credits exceed debits by $(insert amount of my GST/HST Owing (Refund) here). Select an account to assign the difference to."

I'm not sure why I would be getting this because my GST/HST Adjustments minus my ITC Adjustments equal the number I need, why is the same number coming up as excess in my credits?

I am using the accounts that were pre-setup by Sage.

0 Richard S. Ridings over 10 years ago

Have you completed all sections? It sounds like you are concentrating on only the liabilities. Have you entered all the Assets and Equity accounts? Based on the rule Debits = Credits, you are getting this message. If you don't enter the amounts in all the accounts, you may not balance.

My default answer would be that your Retained Earnings is not right and you should put the extra amount there. However, the default setup of the program will force the amount there anyway if you are doing what I think you are doing.

I am having a hard time because you have not told us exactly what you are doing and how you are doing it. So I am afraid my answer may be a little incomplete.
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Program Doubling GST/HST Owing (Refund) Amount

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