How to record purchasing a property in the Reckon plus 2023 ( Desktop)

shi
shi Member Posts: 61

Hi,

May I ask if anyone know how to enter purchase a new property in Reckon plus 2023 ( Desktop)

I did some study online and I was suggested as following


Firstly, setup a Header for the Property by Address under Non - Current Asset..

There would be at least 3 sub accounts.

These include Cost Price and adjusted fee, Stamp Duty and Legal Fees.

There would be sub accounts for Div 40 and Div 43 if applicable.

Could anyone to confirm if it is right?


Thank you

Best Answers

  • shi
    shi Member Posts: 61
    Answer ✓
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,317 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Answer ✓

    @shi

    The information you found online is fairly correct except it should be a Fixed Asset. The costs associated with the purchase are not expensed as they form part of the asset's cost base for CGT so - as per the info you found - these should be added under this same (Fixed Asset) Account too.

    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

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    (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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