How do I set up a negative (overdrawn) opening bank balance in Reckon Accounts Plus?
Thanks in advance.
Mel
Comments
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Hi Mel
If you’ve no other entries in the account yet, you can enter the Opening Balance in the Edit Account window (Right-click on the bank account in your Accounts list > Edit Account):
If you’re trying to enter it directly into the bank register, you need to enter the amount in the “Payment” column:
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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Thanks Shaz. I tried that - and entering it into the payments column - but it still told me it couldn't record a negative amount. So, I went round it. As I am starting the Reckon accounts from July 1, I entered the amount on June 28 as a deposit then entered twice the amount as a payment (to a dummy 'adjustment' account) on June 29 and ended up with the negative balance I needed ready for July 1.
Probably created a headache for the accountant but it works for me
Thank you very much for your continued help - I'm almost done setting up.1 -
Hi Mel
It sounds like you’re trying to enter a negative amount (eg with a “minus” symbol in front) ?
You need to enter the amount as a positive number - The column it’s entered into will determine whether it posts as a negative or positive.
eg If the account is $ 1,500 overdrawn, you still enter “1500” (without the minus sign) but entering it in the Payment column will reflect the account balance as being “-1,500”
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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When you entered it in the payment column of the bank register were you using a minus sign?0
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Hi Kris and Shaz
I originally entered it with a minus sign, but have since tried entering it as you both suggest, in the payment column and without a minus sign. It still tells me "Unable to record a negative deposit" and leaves the balance as positive.
Anyway, as I say, I've made adjusting entries and as long as I can start the FY off with the correct (overdrawn) balance, I'm happy.
Thank you for your help.
Mel
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I realise you have sorted it but just for your info, you would have to delete the original one and reenter as you can’t edit a register entry and change it from a deposit to a payment or vice versa0
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Ah, thanks Kris. That explains why it wouldn't let me change it. Thank you,1
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Glad I could be of some help0
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