How do I record a deposit from a non customer?

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  • Updated 9 months ago
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How do I record a deposit when it doesn't have a matching bill? Deposits from people other than customers
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Kat

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Posted 3 years ago

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Kevin Russell, Accredited Partner

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Use make deposits and deposit it to a liability account Deposits
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Qwerty

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Hi Kat,

Kevins response relates to the Reckon Accounts product.

Regarding Reckon One, the contact field in receipts and payments is a required field.

In the scenario where a customer pays you a deposit (early payment) before you have issued an invoice to them. You would enter a credit receipt. Credit receipts can later be allocated to an invoice. Receipts require a customer contact.

In the scenario where you pay a deposit (early payment) to a supplier before they have issued you a bill. You would enter a credit payment. Credit payments can later be allocated to a bill. Payments require a supplier contact.

Contacts can be customer only, supplier only or both customer and supplier.

The thread below has some more info on credit receipts
https://community.reckon.com/reckon/t...

If this doesn't answer your question then perhaps you could explain your scenario in more detail.
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Kevin Russell, Accredited Partner

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Sorry. Now I feel like an idiot
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Kat

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That's ok Kevin...would have been awesome if there was a 'make deposits' button. I've come from Quickbooks and im used to it.

Ok basically we have received a deposit of funds from a family member to help out in paying for invoices.
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Qwerty

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There are quite a few threads on the community that relate to the scenario of contributions to a business.

This can be entered via a journal entry using an equity account & a bank account. However this is also an accounting related question & you should talk to your accountant.

Here are a few related threads on this topic
https://community.reckon.com/reckon/topics/how_do_i_enter_owners_contribution
https://community.reckon.com/reckon/topics/transferred-money-from-personal-bank-account-to-pay-bill
https://community.reckon.com/reckon/topics/entering-expenses-from-personal-account
https://community.reckon.com/reckon/topics/owners_capital_investment_in_the_business
(Edited)
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Sheri Sands

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how do I record a start up deposit from us into our business and account 

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Kat

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Make sure you have your chart of accounts set up accordingly and do it up as a journal. Out of 'personal' bank account and into 'business' bank account
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Sheri Sands

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our personal account isn't listed in chart of accounts  ??

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Kat

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add it in

we made up one under equity and just called it drawings

i suggest u speak to your accountant/bookkeeper though...i'm not qualified...im just going on how ours was set up which your query sounded similar to our start up
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Sheri Sands

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ahh yes my brother in law is an accountant and I remember him saying that , we are only 6 weeks in and im backtracking trying to get everything in there and im new to Reckon -
when I go to journal entries there isnt a to and from row ?

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Kevin Russell, Accredited Partner

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Can your brother in law help you?
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Sheri Sands

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unfortunately he wasn't home when I was trying to do it earlier 
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Kevin Russell, Accredited Partner

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And it coukdnt have waited?