Hello, appreciate if someone can help to point out how I can solve the mistamtach: my P/L result as at 30.11.25 is -708,326.00, profit period calculated in the Balance sheet is -707,905.69. After analysis, I realized that the different of are due to 3 transactions:
SGD258.66 Under COGS: 51010110 - COGS (INGENIUM) G/L code created was created, but it was not mapped to P&L in Oct’25, during this period, first transaction posted Journal: DR COGS 258.66 CR Inventory 258.66. But P&L match to balance sheet profit/loss period. In November, I mapped COGS to P&L. The P&L and balance sheet mismatch by this exact amount: SGD258.66
SGD 156.00: JE 2025000087: Forex adjustment to align GST Control (SGD) w Tax Report 2nd quarter.
DR | GST CONTROL - AUST | 156.00 | |
CR | EXCHANGE GAIN OR LOSS - REALISED | | 156.00 |
SGD5.24 due to some entries to reserve out GST AUS input and placed into Telephone expenses bill
Document | Title | DR (AUD) | CR (AUD) | DR (SGD) | CR (SGD) |
CN 2025010 | Standalone CN to credit out GST Input of non claimable bill (reduce) |
| Vendor | 6.29 | | 5.24 | |
| Gst input (AUD) | | 6.29 | | 5.24 |
IP 2026053 | Incoming Payment to clear CN balance and as internal bridging adjustment nets zero, prepares for P&L reclass |
| Contra | 6.29 | | 5.24 | |
| Vendor | | 6.29 | | 5.24 |
JE 2025000086 | Contra Clearing, reclass GST to Telephone expense (SGD) account |
| Telephone expense | | | 5.24 | |
| Contra | | | | 5.24 |
The last 2 transactions are link to GST Aus input/control account as we file for GST in Australia as well. Our local currency is SGD
Thanks in advance
Bluesky
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