Does Reckon business range support daily updating share investment related transactions

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Hi



Just wondering can the Reckon business range support

  1. daily updating share investments transactions (dividends, buy/sell/ CGT reports)

  2. recording both business and personal expenses.

If yes, could you please recommend the best version to achieve the above needs?

Thanks for your help

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Amy

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Posted 2 weeks ago

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Rav, Community Manager

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Welcome to the Reckon community Amy,

The Business Range suite of products does not support share price download services however our Personal Range products Personal Plus and Home & Business do exactly that.

I'd suggest checking out Reckon Home & Business here for info on its features and also a free 30 day trial to see if it suits your requirements - https://www.reckon.com/au/home-business/
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Robyn Kelly, Accredited Partner

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I mean in your chart of accounts make a "dummy" bank account.  Then on each line post the transaction you are wanting to post to increase or decrease and income or expense account.  Eventually after adding all transactions this account should end at $0.

It is not a fantastic way to do YE journals but it does work for those wanting to do them.

Also, in your screen shot above if you go to EDIT > CUSTOMISE TOOLBAR, over the right bottom click on SHOW > ICONS and TEXT.  Then on your toolbar you will see the word "ACCOUNT".  Click on that to create a new bank account and call it "ACCOUNTANT JOURNALS" or YE JOURNALS.

Regards, Robyn Kelly
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Amy

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Thank you so much for your help
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Amy

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Hi Robyn

Thanks again for sharing the "dummy" bank account idea to do accountant general journal entry. 

Can we use the dummy account to adjust Equity accounts, such as share capital and dividends? if yes, could you please tell me more about how to make the adjustments?

 
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Robyn Kelly, Accredited Partner

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Reckon Home & Business does not have "Equity" type accounts sorry Amy.  I usually ask the accountant if a "Liability or Asset" type of account will be OK for the sort of transactions you are suggesting and they usually adjust at year end as need be.  Depends on the accountant / tax agent.
Regards, Robyn
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Amy

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Thanks Robyn
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Kevin Russell, Accredited Partner

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No