"other current liability"

Chris_7194422

Would this account type be suitable for personal expenses made that I don't want shown in a P/L report, or any other income reports?

Kris_Williams

Well a liability or asset can be used, money owed to the company is usually an asset though. It can be entered as Drawings or Loan - ABC

You could use an Other Expense account which would show it at the bottom of the P & L. Your accountant would be the best person to advise as he would know the structure of the business

Acctd4

You can do - I use the Other Income & Other Expense-type accounts & just omit these from my Memorised business P&L 😊

(Note: this is fine as a sole trader however personal transactions may need to be recorded differently if the entity is operating under another structure - especially a company - depending on the situation & setup)

Chris_7194422

https://community.reckon.com/discussion/comment/20632490#Comment_20632490

I have converted the accounts to 'other expense'. How do I omit them from a report? I was guessing to use 'filters', but didn't get very far.

Kris_Williams

With Profit and loss on screen select modify, filters and change to All ordinary income/expense

Chris_7194422

Thanks Kris. 'All ordinary income/expense accounts' cracked it.

There doesn't appear to be information about what each filter does, I never would've guessed to use that one.

Cheers, Chris

Acctd4

The Find & reporting in RA is extremely powerful & no other program has the capability on par with Reckon - You can pretty much search & customise a report on anything! ☺️