How to record sold asset

shi
shi Member Posts: 67 Reckoner Reckoner
in Reckon Accounts (Desktop)

Hi

May I ask how to record a sold car in Reckon plus 2023 (Desktop)?

Thank you

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 3,722 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Do a cash sale and an item linked to Motor Vehicle asset account (the account that the original would have gone to) and use GST tax code if you are GST registered. You can also do a journal entry if familiar with these

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,838 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited November 2023

    @shi If the vehicle is owned by an entity (eg your trust or Pty Ltd company) & has been being claimed by that entity, this needs to be reported as a 'sale' & - if GST-regd - included at G1 on your BAS so it should be linked to an applicable Income account.

    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

    shaz@accounted4.com.au

    https://accounted4.com.au

    (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!)
  • shi
    shi Member Posts: 67 Reckoner Reckoner
    https://community.reckon.com/discussion/comment/20642312#Comment_20642312

    Thank you. I need to check the Reckon and see how it was recorded originally.

  • shi
    shi Member Posts: 67 Reckoner Reckoner
    https://community.reckon.com/discussion/comment/20642329#Comment_20642329

    Thank you for your reply. Very helpful. I will check the the original record in the reckon.

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