I had a couple of expenses that I paid out of my own pocket and then transferred the total amount to myself from my business bank account. I want to list the individual bills in Reckon and then allocate the payments from the lump sum transferred to me.
When I try to do this it allocates the whole sum and tries to issue a credit note to the supplier.
Is there any way I can do it?
I've seen this question posted a few times on this community channel in the past. I'll see if I can point you in the right direction although I will need a bit more information.
Question 1 - Does the accumulated amount transferred relate entirely to bills or does only a portion relate to bills and a portion relate to non billed expenses?
Question 2 - Does the accumulated amount transferred relate to a single supplier or multiple suppliers?
Had the applicable bills all related to the same supplier then yes you can enter a single payment linked to multiple bills. In the 'Allocate' tab of the payment you'll see each unpaid bills for the selected supplier. You would just allocate the payment amounts for each applicable bill.
Seeing that in your scenario the applicable bills relate to multiple contacts then no you can't handle this with a single payment. Not until the ability to use/select multiple suppliers on a payment form is available in Reckon One.
Journal transactions do allow you to specify multiple contacts. Unfortunately you cannot currently link a journal to a bill (or invoice). This is another feature I hope to see the Reckon team add to Reckon One in the future.
My suggestion for now would be enter two seperate payments (one for each supplier/bill). When it comes to reconciling these two payments against the 1 bank transaction, you'd have to reconcile these two transactions manually and remove the 1 bank transaction.
The thread below has some related information regarding not being able to reconcile 1 bank transaction against multiple Reckon One transactions. You will need to scroll down the thread conversation history to the where Amit joins into the conversation on the thread.
In order to deal with the payment of bills etc that are paid personally I do the following.
1. I set up a Cash or Petty Cash account in the Banking section.
2. I pay the bills from this account
3. When transferring the total to myself in repayment, I transfer the funds from my business bank account to the Cash/Petty Cash account.
4. In the end the Cash/Petty Cash account will show a nil balance as the transactions have been repaid.
I hope this helps with your query.