What's the difference between paying a bill and a payment to a supplier

Jon_1902808
Jon_1902808 Member Posts: 65
edited August 2019 in Reckon Accounts (Desktop)
Just wondering when I incur a business cost should I a) create a new bill and then create a payment or b) create a new payment to a supplier. Is there any difference in the accounting outcome?

Comments

  • Jon_1902808
    Jon_1902808 Member Posts: 65
    edited May 2017
    Thanks for that Kevin. I've usually paid already at POS so 'payment to a supplier' records that. And I'm not registered for GST.

  • Jon_1902808
    Jon_1902808 Member Posts: 65
    edited July 2017
    Having just printed out  an income tax summary, I notice that any payments to suppliers are not included among the expenses in the report! That's not good :-( How do I rectify that?
  • Nick_9187524
    Nick_9187524 Member Posts: 4
    edited July 2017
    Hi Jon and Kevin, I have a similar question and glad that its being discussed here. To recap on what you have said here.

    1. If it is just expenses for the business (parking, stationary etc) then we should just put in as 'make payment'. If it is a suppliers invoice which will be paid later, then it should be entered as a 'bill'?

    2. Following on from Jon's concern above. How do we make sure that our reports (P&L and BAS) picks up these costs and the relevant GST correctly.
  • Nick_9187524
    Nick_9187524 Member Posts: 4
    edited August 2019
    Kevin, can you respond to the question 1 above. Thanks

  • Nick_9187524
    Nick_9187524 Member Posts: 4
    edited July 2017
    1.So what is the difference between 'make payment' and 'Bill'? They seem very different!
    2.How can you make a quick entry to make sure you capture general business expenses (parking, stationary etc)
  • Nick_9187524
    Nick_9187524 Member Posts: 4
    edited July 2017
    Kevin,

    The videos on http://go.reckon.com/newreckonone-videos/ show both make a payment and enter a bill. That said, the video on 'make a payment' is acturally 'make a cash payment'. Do you have access to the correct video link?

    Cheers,

    Nick


  • Jon_1902808
    Jon_1902808 Member Posts: 65
    edited July 2017
    Are there any reasons why 'payments to suppliers' are not showing up in any reports? All accounts/Categories/payees are ticked in the report customisation.
    If instead I create a bill and payment, then that DOES show up in the report.
  • Jon_1902808
    Jon_1902808 Member Posts: 65
    edited July 2017
    *quietly whimpering* ;-)
  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited July 2017
    Hi Jon,

    Does the Report Suppliers & Payables > Transaction list by Supplier, provide you with what you want?

    You can filter this report for payment items - like Bill Pmt - Cheque, Cheque (for Write Cheque ), credit Card charges and Liability Cheque for payments of liabilities withheld from processes like Payroll.  Memorise it for easy use at a later time.


    regards,
    John