creating an upfront deposit or retainer item
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Pat Hobson
Member Posts: 3 ✭
I have been following the Reckon Help page's instructions on how to set up an liability and associated Item to account for deposits paid by customers for work yet to be completed. When I complete the step-by-step process and create Sales Receipt and enter the amount the customer paid, it changes it to a negative value and tells me I cannot record a negative transaction and to use a Credit Adjustment. Can you explain this anomaly or suggest how I may have gone wrong in setting up the Item? I believe it has something to do with choosing "Discount" but no other options seem to apply by their description.
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I would personally set up an account for customer and just apply payment to that account0
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Hi Pat/Jason
Yes, not sure why the Help file suggests using a Discount Item .... Use an Other Charge-type Item instead, no tax code.
The simpler option is to "Receive Payment" in advance for the Customer so it sits under their name as a Credit until you create the Invoice later & allocate it.
However, bear in mind this won't allow you to print a "Receipt" for the Customer if they want one.
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
(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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