Receive Money

Melissa Elstone
Melissa Elstone Member Posts: 11
edited September 2018 in Accounts Hosted
I work for a retail outlet in the office. They have 5 stores and the funds get deposited daily for each store. I am a MYOB user and have only had minimal time with Reckon Hosted. My question is how can I record this??? Do I need to create an invoice to each store and then receive money or is there a receive money function I can use? I need to track it to each store. Just wanted to add that the funds all get deposited into the same bank account I just need to track each store they came from.

Comments

  • Shannon Sciuto
    Shannon Sciuto Member Posts: 98
    edited September 2018
    Hi Melissa, 

    For these transactions, you should be creating a Sales Receipt issued to Customer: Cash Sales (or Eftpos Sales).  I would create a new Sales item called Daily Takings (you may also want to create separate items for each store so you can track store sales - you can also use classes or jobs to do this).  

    A sales receipts is *technically* how it should be processed in MYOB also - the end result is the same but by using sales receipts instead of receive money you get better reporting and tracking... 

    Once upon a time, we could use the Make Deposits function similarly to Receive Money but to avoid misuse they took away the tax code column so that we couldn't enter sales directly through the deposit window.  As a bookkeeper though, I've found that this causes more problems than it solves as I often find clients who have still used the Make Deposits function without entering a tax code and I get the fun job of telling them they owe more than they thought to the ATO.  
  • Melissa Elstone
    Melissa Elstone Member Posts: 11
    edited March 2016
    Thank you so much. I really appreciate your help :-)
  • cosmic
    cosmic Reckon Developer Partner Posts: 1,073 ✭✭✭
    edited December 2016
    Agree fully, follow Shannons suggestion.

    Cosmic Accounting Group

    Accountants and Tax Agents 22397009

  • Melissa Elstone
    Melissa Elstone Member Posts: 11
    edited September 2018
    Ok can I please ask one more question.... when I click on Create Sales Receipts and it asks Customer:Job do I just make a Customer Daily Takings? Or who do I put there, do I put each store? Thanks so much :-)
  • Shannon Sciuto
    Shannon Sciuto Member Posts: 98
    edited March 2016
    I'd pop in either Cash Sales or Eftpos Sales
  • Melissa Elstone
    Melissa Elstone Member Posts: 11
    edited March 2016
    Thank you thank you thank you I sincerely appreciate your help!!!!
  • Shannon Sciuto
    Shannon Sciuto Member Posts: 98
    edited March 2016
    No probs
  • Start IT Consulting
    Start IT Consulting Member Posts: 5
    edited April 2016
    You may also want to consider class tracking for the stores and make sure you are allocating the correct GST in the sales receipts 
  • cosmic
    cosmic Reckon Developer Partner Posts: 1,073 ✭✭✭
    edited December 2016
    hi , i noticed   your website is not opening, i had the same issue with mine, i think you have to enter:http://cairns...........

    Cosmic Accounting Group

    Accountants and Tax Agents 22397009

  • Start IT Consulting
    Start IT Consulting Member Posts: 5
    edited April 2016
    Thanks