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How do I match a Payment in the Bank Feed to 2 payments in the register

Allcity Sawing

Comments

John G

Hello Allcity,

That is not possible. You will need to put those 2 transactions through a bank clearing account and make a transfer from your main bank account to clear the bank clearing account. That transfer can then be matched to your single bank payment amount.

Hope this helps.

regards,
John.

Wendy_7689800

Finally thought I should give the process of importing bank statements ago - everyone says I'm nuts not using it, saves so much time. It left a heap of transactions unmatched, which turns out to be because I usually put multiple payments in one transaction (well, that's how NAB Connect works, and if I were to enter them each separately I'd be charged for each one, have to create & authorise each one separately, and it would defeat the purpose of using NAB Connect!).

Now feeling shell-shocked reading this answer that there is no way to match them except via clearing accounts - why??? I get that it can't match them automatically, but I don't get why it couldn't let me manually match the one bank transaction to multiple transactions in the bank register.

I'm not sure that the import function is worth it.

Any chances of getting this fixed?

Newbee

https://community.reckon.com/discussion/comment/19148754#Comment_19148754

Per first para. Has there been any change for single eft transactions events that cover multiple entries in register. For me, it's one total eft payroll amount but individual pay chk amounts on register that seemingly reckon cant handle?

Secondly, How would I go fixing this retrospectively so that I can match transactions and and complete bank reconciliation and secondly, prospectively.

If giving advice, please advise about process.

Cheers,

Kris_Williams

Hey Wendy, I don’t use the import feature either, I prefer to be in full control and bank recs take me minimal time. I know a lot of people will disagree and that’s ok, it’s my choice

Acctd4

I agree with Kris - I don’t use importing either as I memorise many of my transactions to auto-enter anyway, so don’t see the point 😁

As previously suggested by John, Clearing accounts are the way to go! I use them a lot for multiple payments made within the 1 transaction.

A Clearing account is a dummy bank account created for the purpose of moving payments in & out. As such, the balance should always come back to $0.

Make the multiple payments out of the Clearing bank account. This leaves the total payment amount as a negative balance in that account. A single Write Chq transaction (You can also use Make Transfer. However I prefer a Chq as there’s more detail via that method) for this amount out of your main bank account - as per your bank transactions/statement - is then all that is required (NOTE: NO tax code though - it is simply a transfer of funds!)

Newbee

Thank you,

But that doesn't fully answer my question, can you please address the first part in relation to existing transactions, specifically with regard to:

'single eft transactions events that cover multiple entries in register'

What can I do now to address what's already occured - not what's in the future.

Btw is there an updated user manual for Hosted 2021 or something to the same level of detail as that contained within Reckon?

Thanks,

James McIntosh

Why should you have to set up a clearing account? Seems like entirely non value added busy work.

Receiving payments in Fast coding has shown you can allocated payments received to multiple invoices, why shouldn't payments be the same?

This is especially problematic for BAS payments, where the ATO presents you with a single amount to pay, but in Reckon you have to enter payroll liability payments and tax payments separately and heaven help you if you don't, or if you forget and have the temerity to make one payment for your BAS instead of two.

Acctd4

Hi James

Rather than having 2 separate transactions for your BAS, you only need to use the ONE Payroll Liability Cheque for this!

You generate it - as usual - for the PAYGW component, then click on the Expenses tab to select & enter the GST component (Account & amount). Where the GST is a credit, simply enter this amount as a negative.

NB: After the above, click on the Recalculate button at the bottom to "update" the totals.

This is much more efficient & accurate as it reflects the one payment from your bank account 😁

Unfortunately, I can't offer much more insight on Fast Coding (I don't use Bank Feeds as I Memorise most of my transactions for auto-entry so they're already in there!) @Rav can you provide any more info on this to James ?

James McIntosh

Thanks Shaz, that would indeed solve my particular problem and really appreciate your reply, BUT when I tried to enter an expenst for Tax Payable a message box is shown with the text:

"The account you chose could be a tax liability account/

If you're trying to pay tax, you should use the Pay Tax window instead. Recording this cheque transaction will not be considered a payment against any tax owed.

To pay tax, go to the Suppliers menu, choose Tax, and then click Pay Tax"

And if you try the other way, by going to a Pay Tax window and entering an expense for PAYG Withheld, a similar message box is shown with the text:

"Problem

It appears you're about to pay your payroll liabilities.

Solution

To ensure that your payroll tax forms and reports are calculated correctly in Reckon Accounts, you should use the Pay Payroll Liabilities feature to create cheques for payroll tax payments, health insurance premiums, and other payroll liabilities."

So it seems like we really are stuck with two payments inside reckon? And if make one payment from bank account to tax office then no way to match in Fast Coding?

Acctd4

Are you entering via Create Custom Liability Payment (eg NOT just an ordinary Write Cheque) ?

It’s just a system warning … Click on OK & proceed ☺️

(This message has been around as long as I can remember - I suspect it’s a warning to prompt users to enter via the payroll liability section - IF applicable - rather than as a stand-alone cheque! It’s actually only necessary if you have a PAYGW component - If you don’t have employees & you’re only paying GST, it’s not relevant as this DOES need to be entered via just a Write Chq entry)

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