Moving up from 2014 version

Kim_Oke
Kim_Oke Member Posts: 5 Novice Member Novice Member
in Reckon One

Hi there, I'm finally moving up from my 2014 version of Quicken Accounts. I have a big question that I need help and/or a workaround.

I run some of my bank accounts with sub-accounts. So the big question is, how do I do this?

For example

Savings

Savings: House Insurance

Savings: Mobile Phone

Savings: Internet


Now some of these are monthly bills, some are quarterly, some are yearly, and a few are saved up over a few years. It's like the old method of tucking money into envelopes to save up for bills. I just do it with bank accounts. The Bank sees one account with $x000.00 in it, but my system sees all the little sub-envelopes with little amounts of money in them telling me how I'm doing with meeting these liabilities.

Is there a way to do this, or does anyone have a good idea on how to work around it without having to get a dozen separate accounts with the actual bank?

Many thanks

Kim

Comments

  • Bin Liang
    Bin Liang Reckon Staff Posts: 7 Reckon Staff

    Hi Kim,

    Thank you for posting your question in Reckon Community.

    Firstly, you can create a main bank account named "Savings" from Chart of Accounts in Reckon Accounts Business software.

    After that, you can continue to create sub-accounts of the main bank account "Savings". Please find the following screenshot as an example. A sub-account named "Savings - Internet" can be created.

    image.png

    Please let me know if you have any further questions. Thank you.

    Kind Regards,

    Bin Liang

    Senior Technical Support Representative

    Professional Services Group

  • Kim_Oke
    Kim_Oke Member Posts: 5 Novice Member Novice Member

    Thanks Bin

    Is this the software that you have to pay a yearly license subscription fee? Or the online Reckon One? I ask because that looks exactly like I am looking for and have in the 2014 version. Unfortunately, I can't afford the yearly license thing and am having to use the Reckon One (Trial).

    Is there a way to do this in the Reckon One or is it only a thing in one of the fully licensed versions?

    Would I be better with Reckon Accounts Personal Plus or Home and Business?

    Many thanks

    Kim

    PS: I'm on a very small fixed income and am looking for the easiest and cheapest way to achieve this.

  • Bin Liang
    Bin Liang Reckon Staff Posts: 7 Reckon Staff

    Hi Kim,

    Thank you for your reply.

    The procedures that I provided were from Reckon Accounts Business software. However, if you would like to use Reckon One. I think you can achieve this as well. Please find the following procedures for Reckon One.

    In Reckon One, please go to "Chart of accounts" and then you can set up a main account and its sub-accounts. Please click on the green button "Add" to create these accounts.

    image.png

    Please create the main account first. After that, you can create a sub-account by clicking on the drop-down menu of "Sub account of".

    image.png

    Kind Regards,

    Bin Liang

    Senior Technical Support Representative

    Professional Services Group

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