Query
The debt alert for a company does not look like it is updating correctly. I have confirmed with my client that they have paid their outstanding debt.
Solution
This can be resolved by one of the following:
- Confirm that there are no duplicate ACN’s in your Company Selection screen. If multiple companies in the company selection screen have the same ACN, this will affect the debt alert updating appropriately. If this is the case, users can delete the duplicate companies. See Deleting Companies in CAS 360
- Confirm that the company has no outstanding debt by logging into the ASIC Edge Portal.
- CAS 360 will only update its debt information each morning. If payment is processed during the day, it will not be automatically updated in the debt alert until the following morning. To update the debt alert during the day, attempt to lodge an RA63 which may show the correct amount: Form RA63 - Request Debtors Ledger Report for a Specified Company.
- It may take longer for ASIC to process any recent payments made by the client if the current debt is higher than expected. See ASIC Payment Processing Time.