Other Names List purpose

EHSSEHSS Member Posts: 13
edited September 2019 in Accounts Hosted
Hello

I am using Reckon Account Hosted and was hoping that you can direct me to information relating to the purpose of the Other Names List'. I have tried searching but cannot find information explaining this or giving examples.  Thank you

Comments

  • Tanya BriggsTanya Briggs Member Posts: 63
    edited August 2018
    I use it to create payees for bank charges, interest etc.  Names that you don't need to appear on any supplier reports.
  • Acctd4Acctd4 Accredited Partner Posts: 884 ✭✭✭
    edited September 2019

    Hi Creena

    The purpose of the "Other Names" is for those that aren’t customers, suppliers or employees such as Partners of the Business, "Cash" for ATM Withdrawals etc.
    I also use them for clearing, account (eg “ANZ (Bus>Pers)”) or bulk transfers (eg "Wages TXFR" & "SBSCH TXFR" (To the Super Clearing House).  I have the individual employee/super fund payments being paid out of a "Clearing" bank account & do a bulk "Write Chq" transaction from the main account (as per the lump sum amount) posting back to the Clearing account.

    I prefer to have any entity that is being “paid” as a “Supplier” & therefore have bank charges/interest under the applicable bank "Supplier" & any Interest received under the applicable bank "Customer".  I use "(c)" or "(s)" if necessary on the list name to differentiate or where I want specific transaction auto recall, I have multiple Suppliers eg "ANZ (Int)" & "ANZ (Fee)"

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Partner (AP) Bookkeeper * Regd BAS Agent (No: 92314 015) *

    ICB-Certified Bookkeeper * Seasonal Tax Consultant since 2003

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://www.accounted4bs.com/

  • EHSSEHSS Member Posts: 13
    edited August 2018
    Thank you for your feedback.  Very much appreciated.
Sign In or Register to comment.