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Problem

An issue has been reported in Reckon APS Tax 2020.3.1 where the following error is triggered in some individual returns when $0 in the field of Franking credits from New Zealand franking companies.

INCDTLS222 Foreign Financial Gross Amount

Solution

The problem described in this article is fixed in Reckon APS Tax 2020.4.0 (reference TAX-453).

Workaround

For the zero NZ Franking credits, remove the zero from the trust distribution in the trust return and re-distribute; Alternatively delete the trust distribution and manually enter the trust distribution in the individual return without the zero for NZ franking credits.

For the non-zero Franking credits in this field, unfortunately the workaround is to lodge via paper. 

 

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