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accounts30
Level 1
posted
‎March 12, 2019 12:41 PM
last updated ‎March 11, 2019 6:41 PM

I am getting this error "You have either selected a tax liability account on a transaction where it's not allowed, or haven't specified a tax rate along with it."

My situation:

Not using quickbooks BAS lodgement function, but receive income incl gst and runs payroll so have BAS liabilities and PAY withholding tax.

For one quarter I paid the amount from the bank (calculated by my accountant) now I am trying to record that from the bank feed to record against BAS Liabilities  and PAY withholding, tried choosing tax as W2 BAS or out of scope purchases. In the mobile tried recording as Cheque (or should it be expense)? Failing both the places

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Best answer March 12, 2019
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IntuitJamesLowell
Level 3
‎March 12, 2019 12:41 PM

I am getting this error "You have either selected a tax liability account on a transaction where it's not allowed, or haven't specified a tax rate along with it."

Hi there, accounts.

I can get this fixed for you in no time. 

Normally when you get this error, it means you can’t assign a GST code when using BAS Liabilities Payable account. Default tax accounts are used to track GST and shouldn't be used in creating transactions.

If you wish to use the BAS Liability account without using the BAS Lodgement feature, you can also record a journal entry. After, you'll need to match the journal entry to the bank transaction.  

  1. In the first line, choose BAS Liabilities.
  2. Enter the exact amount shown on the bank feed transaction under Debits.
  3. In the second line, choose the bank account connected for bank feeds.
  4. Enter the same amount above amount shown on the bank feed transaction under Credits (please know that the GST column should be blank for both Debit and Credit lines).
  5. Click Save.

You can go back to the banking page and match the journal entry to the bank transaction.

Please leave a comment below if you have other questions or concerns.


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1 Comment 1
IntuitJamesLowell
Level 3
‎March 12, 2019 12:41 PM

I am getting this error "You have either selected a tax liability account on a transaction where it's not allowed, or haven't specified a tax rate along with it."

Hi there, accounts.

I can get this fixed for you in no time. 

Normally when you get this error, it means you can’t assign a GST code when using BAS Liabilities Payable account. Default tax accounts are used to track GST and shouldn't be used in creating transactions.

If you wish to use the BAS Liability account without using the BAS Lodgement feature, you can also record a journal entry. After, you'll need to match the journal entry to the bank transaction.  

  1. In the first line, choose BAS Liabilities.
  2. Enter the exact amount shown on the bank feed transaction under Debits.
  3. In the second line, choose the bank account connected for bank feeds.
  4. Enter the same amount above amount shown on the bank feed transaction under Credits (please know that the GST column should be blank for both Debit and Credit lines).
  5. Click Save.

You can go back to the banking page and match the journal entry to the bank transaction.

Please leave a comment below if you have other questions or concerns.


Reply