Correct way to pay expenses like Hire Purchase, Merchant Fees (using Spend Money in MYOB now)
Hi all
Still working on migrating across from MYOB to Reckon. On the home stretch, but needing to know equivalent function in Reckon to Spend Money in MYOB.
Do you have to create a Pay Bill and put the company owed as a supplier? For things like Hire Purchase and Merchant Fees?
Comments
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Hi Michelle
(FYI ... You've posted in the App Developers section which is probably why you've not had an answer so far)
The equivalent in Reckon is "Write Cheque" - This is under "Banking" on your Home Screen & in the Banking dropdown menu. You would still create a Supplier as the Payee (at "Pay to the order of ...") name which can be done as a "Fast Add" to your list upon entry.
For some who don't track Accounts Payable, all purchases/expenses can be entered via "Write Chq" however personally as a rule of thumb, I prefer to use "Write Chq" mainly for expenses that you either don't receive a Bill for &/or pay later eg direct debits, bank fees, POS purchases (till receipts), loan repayments etc.
Anything on account, I like to enter a Bill with the correct terms/due date & a subsequent Bill Payment.
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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