Hi,
We have received a payment from a customer for a sale of an old business car. How would you enter this in Reckon Hosted?
Do a cash sale and enter it under the item - asset sale, linked to an asset account - because I do not know what your chart of accounts is you can make a new asset account also called Asset Sale and let the accountant put it where he wants it
It needs to be recorded via a Sales Receipt & a new Item linked to an Income account (with GST included in the sale if GST-regd, as this needs to be included at G1)
The Tax Agent will do the balancing adjustment to the asset at EOFY 😁
Perfect, this helps alot. Thank you
sorry Shaz I thought it had to go against the original asset account, I defer to you
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