Receiving a payment from a customer - not for an invoice

CuttingEdge
CuttingEdge Member Posts: 36 Reckoner Reckoner
in Accounts Hosted

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?

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 4,278 Reckon Hall of Famer Reckon Hall of Famer

    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

  • Acctd4
    Acctd4 Accredited Partner Posts: 4,211 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited August 4

    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 😁

    Shaz Hughes.png

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  • CuttingEdge
    CuttingEdge Member Posts: 36 Reckoner Reckoner

    Perfect, this helps alot. Thank you

  • Kris_Williams
    Kris_Williams Member Posts: 4,278 Reckon Hall of Famer Reckon Hall of Famer

    sorry Shaz I thought it had to go against the original asset account, I defer to you

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