How do I enter the balance of a payment from a customer that had the amount we owe them as a supplie

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Barbara de Waard_10081632
Barbara de Waard_10081632 Member Posts: 3 ✭
edited June 2020 in Reckon Accounts (Desktop)
We have a customer who is also a supplier and they paid their account to us less our account to them. How do I enter the transaction in Reckon Accounts Premier 2019?

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  • Lynne_8946547
    Lynne_8946547 Member Posts: 93 ✭✭
    edited June 2020
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    If you pay the supplier account in full in Reckon, and then do the same in the customer account, when you do your bank reconciliation, these two transactions should balance to the amount they paid you.  Hope this helps
  • Linda ABC
    Linda ABC Accredited Partner Posts: 1,131 Accredited Partner Accredited Partner
    edited June 2019
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    I do what Lynne has suggested but I use an intermediary Bank account - I call it Items to Follow Up... and all my clients put entries there that they are not sure how to handle... in this situation, I would do a Pay Bills to pay off your supplier - and allocate the payment to Items to Follow Up... then I would do a Receive Payments entry for the customer name for this same amount - also allocated to Items to Follow Up - this account balance is now zero... Then I do a Receive Payments entry for the amount they ACTUALLY PAID you - and process this to your normal bank account - this makes the Bank Rec easy (especially if that is someone else's job).. Cheers

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