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True Balance Validator

Last Updated: Sep 14, 2018 08:04AM AWST
While the Integrated account has a balance at 30 June (Closest possible balance to that date), any amendments to Activity Statements prior to that 30 June date (by effective date) but with a process date after 30 June actually need to be considered as having transpired BEFORE the 30 June dateline. Because of this fact, LodgeiT can find all amendments to Activity Statements and recognise them in order to provide a true balance on the Integrated Account. This TRUE BALANCE should be recognised on the balance sheet of the reporting organisation as it is the TRUE Integrated Account Liability.

Go to "Reports"

Click "ATO Accounts" and select "True Balance Validator".

Filter "Date" and click "Search"

Dateline found on the Integrated Account below.

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