Company who is a debtor and a creditor

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  • Updated 9 months ago
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Hi,

I have a company who is a foreign currency debtor as well as a foreign currency creditor. I have created two separate accounts in Reckon. They have paid as a debtor directly to Western Union and Western Union have offset these funds against monies owing as a creditor.  Therefore leaving a net balance debited from our AUD bank account.

I really need a bit of help in trying to allocate the net balance in Reckon.  Some guidance would be very much appreciated.

Many thanks

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Annie

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Posted 9 months ago

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Kevin Russell, Accredited Partner

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Cant be done. Now the way I have dealt with it is to use a clearing account to receive the money and then use the same account to pay the bills. I dont know of any accounting system that allows you to create a debtor whom is also a payable.
Agree with Kevin - "Clearing Accounts" work a treat :)
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Kevin Russell, Accredited Partner

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Shaz, you learn a few things after 20 years of using the software.