How do I set up a negative (overdrawn) opening bank balance in Reckon Accounts Plus?

I'm setting up a new company in Reckon Accounts Plus (transferring from other software). We have an overdraft but it won't let me record a negative opening balance in the bank account.

Thanks in advance.
Mel

Comments

Acctd4

Hi Mel

If you’ve no other entries in the account yet, you can enter the Opening Balance in the Edit Account window (Right-click on the bank account in your Accounts list > Edit Account):

If you’re trying to enter it directly into the bank register, you need to enter the amount in the “Payment” column:

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

Mel_10759137

Thanks Shaz. I tried that - and entering it into the payments column - but it still told me it couldn't record a negative amount. So, I went round it. As I am starting the Reckon accounts from July 1, I entered the amount on June 28 as a deposit then entered twice the amount as a payment (to a dummy 'adjustment' account) on June 29 and ended up with the negative balance I needed ready for July 1.

Probably created a headache for the accountant but it works for me

Thank you very much for your continued help - I'm almost done setting up.

Acctd4

Hi Mel

It sounds like you’re trying to enter a negative amount (eg with a “minus” symbol in front) ?

You need to enter the amount as a positive number - The column it’s entered into will determine whether it posts as a negative or positive.

eg If the account is $ 1,500 overdrawn, you still enter “1500” (without the minus sign) but entering it in the Payment column will reflect the account balance as being “-1,500”

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

Kris_Williams

When you entered it in the payment column of the bank register were you using a minus sign?

Mel_10759137

Hi Kris and Shaz
I originally entered it with a minus sign, but have since tried entering it as you both suggest, in the payment column and without a minus sign. It still tells me "Unable to record a negative deposit" and leaves the balance as positive.

Anyway, as I say, I've made adjusting entries and as long as I can start the FY off with the correct (overdrawn) balance, I'm happy.

Thank you for your help.
Mel

Kris_Williams

I realise you have sorted it but just for your info, you would have to delete the original one and reenter as you can’t edit a register entry and change it from a deposit to a payment or vice versa

Mel_10759137

Ah, thanks Kris. That explains why it wouldn't let me change it. Thank you,

Kris_Williams

Glad I could be of some help

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