Support Query
CMN.ATO.GEN.400011: Field incorrect format. Exceeds maximum digits or decimals and/or contains illegal characters - Field is in incorrect format for a monetary field. Field either exceeds maximum digits or decimals and/or contains illegal characters and/or for a signed field does not have the sign as the first character
Deductions - Other amounts
Solution
One of the Expense labels has a negative amount which is not allowed by the ATO.
Negative tax adjustment
A negative tax adjustment may also sometimes trigger this validation error.
If after following the below steps, you are still receiving this error message, please remove the negative tax adjustment and input the tax adjustment as an entry through the Transaction List.
e.g in the example below Section C: Deductions, Label D1 "Other Amounts" of The SMSF Annual Return has a negative entry.
Refer to the Tax Reconciliation Report to locate the account that has a negative entry input.
In this example, account 30100 Accountancy Fees has a Credit input in the Transaction List.
This transaction will need to be corrected in the Transaction List. Once corrected, reverse and re-create entries to fix the error. Refer to The Create Entries Process.
Note: This error may arise due to multiple negative amounts appearing in other labels. Follow the above steps to resolve those as well.
The negative amounts in the SMSF Annual return are correct, how can the return be lodged?
If the negative amounts in the SMSF Annual Return are correct, then, unfortunately, the SMSF Annual Return must be lodged outside the Simple Fund 360. The SMSF Annual Return can be printed by clicking the button and marked as lodged manually.