AugTool Documentation
Misc
The Misc check on the daily report is to check that the Sales in the ledger agree to the source documents raised. It is also to check that the tax in the tax ledger balances to the tax claimed on the source documents.
If your sales or Tax account differs between the ledger and the source document check the following :
Sales
In the daily check report under the Misc section the sales section shows if there are any differences between the ledger and the sales invoices, The following would cause differences between the sales ledger and the source:
Journal Entry to the Control Account
In this example a journal entry was done to the control account for accounts receivable.
In the daily check under the Misc section under the sales section the report the entries would reflect as the difference between the ledger and the source account is the journal entry for the R 275.00 as there was no source document.
To correct this and bring them into balance the journal entry must be reversed and then a new entry done through the source document - ie a credit note.
Incorrect classification of the account in the chart of accounts
All the accounts in the chart of accounts need to be classified to enable the system to identify the correct allocation. If this has not been done then the system will not know to allocate the entries to the correct ledger account.
The sales account for the item
In the daily check Misc section under the sales section it can be seen that there is now value in the ledger but there us a source value.
In the chart of accounts below, the SLAB-sales account has been classified as other income which is not included in the sales figure on the daily check report.
To correct this go into the accounts menu and select the chart of accounts and select the account. Go to classification and change it from other income to income.
Once the account has been reclassified the daily check will then be back in balance. As seen below the misc section of the daily report.
Tax
In the daily report under the Misc section there is a tax section which is the balance between the tax ledger and the source documents. The following could cause a difference
Journal Entry to the Control Account
In the example below a journal entry has been done to the vat control account. This will cause a difference to the daily check tax reconciliation.
The daily check report under Misc section and Tax section would show as follows :
To correct this and to balance the report the journal will have to be reversed and the entry processed correctly using the source documents
Bank Entry to the control account
In this senario there was a bank entry that was allocated to the vat control account.
The daily check report under the Misc section , vat section will reflect as follows:
In this case the vat will need to be allocated to the vat control account and will show a difference as the vat control should only be the vat amount that is due/receivable. This difference will be the value of the tax received/paid to/from Sars.