How to book Tax Refund and Shareholders' loan in Reckon One

I've just started using Reckon one online.
Unfortunately, I can't solve a few things so I would like to ask for your help.

1. How do I book the Shareholder's loans (I tried to book: Money in / Receiving money but it only allows Accounts Receivable)
2. How do I book Tax Refunds ,
3. While I tried to find the right solution, unfortunately I did a close type in the Bill credit unit , which I can't delete. How can I delete this item?

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I tried to search the solutions on the net, at the Reckon Academy, and in this community as well, but I did not find any satisfactory answer. Someone mentioned a Received Tax Refund button, and one mentioned Tax/Managed tax/ Tax refund route, but I have not got any button or any choices

.

Thank you for your helping.

Comments

Kwikbooks (Professional Partner)

Hi Beata

1. How do I book the Shareholder's loans (I tried to book: Money in / Receiving money but it only allows Accounts Receivable) image didn't upload, not sure what you mean by 'book' shareholders loan, are you trying to do entries in/out for shareholders?
2. How do I book Tax Refunds , are we talking BAS Client account refunds or income tax? Are you talking refund to the bank or credit to the ATO client account reducing debt owed?
3. While I tried to find the right solution, unfortunately I did a close type in the Bill credit unit , which I can't delete. How can I delete this item? If credit is applied to a bill unpin it, then delete the bill credit or it might be the 'period' is locked after reconciling, unlock the period from the bank account settings then try to delete it.

Beata Pirok

Sorry if I didn't write clear.
1. startup company, revenues do not cover the expenses so the shareholders give the necessary money to borrow, (book=account)
2. After filing GST declaration to IRD (New Zealand), they refunded the money to the company's bank account.
Thank you for your help.

Kwikbooks (Professional Partner)

Hi Beata

1. Shareholders loan - set this us as a new liability account (the company owes the s/holder), set up a name 'shareholder' make this both customer & supplier - use receive money for the $$ the s/holder put into the bank & on the bottom use 'new' tab & put the money direct to an account 's/holders loan'

2. GST - If you ever have to pay gst and if you ever pay it off over time, set up a new bank account called IRD any GST you have to pay gets entered as a bill and pay it off & any refunds enter as a credit note to reduce what you owe - if you always pay in full or get a refund... set up name "IRD" make it both customer & supplier, set up an 'other income' account 'GST refund' and do the same as above, receive money to "new' tab direct to 'gst refund'.

** to treat gst correctly no matter how it is entered should be multi line transaction...
gst collected $$$ to the cent
gst paid -$$$ "
wage tax $$$ "
Fuel rebate -$$$ "
rounding cents amount paid to IRD $$$
(do same for refund but use receive money)

Sorry this is based on Aust. ATO returns, just adapt to NZ.

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