Suppliers-Monthly Lease payments

Valerie_7135745
Valerie_7135745 Member Posts: 1
edited October 2017 in Reckon Accounts (Desktop)
Can I set up Monthly Lease payments in advance and Monthly Debit Orders?

Comments

  • Kevin V. Russell
    Kevin V. Russell Member Posts: 265
    edited June 2015
    What are you trying to accomplish?
  • Sally McIntosh, Accredited Consultant
    Sally McIntosh, Accredited Consultant Accredited Partner Posts: 468 Accredited Partner Accredited Partner
    edited February 2017

    Hi Valerie,

    As everything is date orientated yes you can enter in advance. As long as you do not select all dates in your date range. But your Profit & Loss and Balance Sheet will reflect the correct balance.

    The downside is that when you look at the Chart of Accounts is the immediate balance in front of you is inclusive of all payments entered, but you can double click on that account to open the register to see "today's" balance!

    I actually encourage many of my clients with repayment schedules and varying interest amounts to enter 12 months in advance so they do not have to continuously pull out their schedules to enter the correct details.

    Kind regards,

    Sally McIntosh ([email protected])

  • Mary Ryan
    Mary Ryan Member Posts: 1
    edited October 2014
    I actually make it a memorised transaction and it pops in every month
  • Kevin V. Russell
    Kevin V. Russell Member Posts: 265
    edited June 2015
    Smart idea Sally. As you stated the interest payment will decrease over time and the principal payment will increase so it would be better to enter that information for the entire lease or at least for the current year while you have the information to hand.