How do I enter owner's contribution?

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  • Updated 5 years ago
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Hi,

How do I enter owner's contribution as a payment received? When I enter a transaction, it has to have a contact. To create a contact it has to be either a customer, supplier or employee. If I select employee, there is an empty drop down box. Then when I try to create the contact. It says please select an employee.

First, am I approaching it correctly trying to classify the contact as employee. Secondly, how do I create an employee anyway?

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Kevin Xu

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Posted 6 years ago

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Kevin Xu

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For the first question, maybe this should be done as general journal?
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John G, Information Support Analyst

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That's right  Kevin, use a General Journal:

Dr - your asset account (bank, truck, loan, etc)
Cr - Owner's Equity

If you need a name use the owner's name set as an Other name.

Hope this helps,

regards,
John
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Kevin Xu

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Hi,


And for second part of the question, how do I create an employee contact?

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John G, Information Support Analyst

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Hi again Kevin,

The first release of Reckon One does not contain a Time and Billing module and you therefore cannot create an Employee contact.

When you create a new Customer and Supplier contact, an Employee option is available on the Type of Contact line, but this option is not active.  It will be active when the Time and Billing module is added in a later release.  All three contacts - customer, supplier, employee - have the same Add Contact form.  

In the current release you cannot pay an employee directly.  One workaround is to use General Journals for payroll transaction, using Narration fields to record the name of the employee.  Full payroll functionality will be available when the Payroll module is released.  

Users will be notified of forthcoming updates and the additions and enhancements they contain. 


regards,
John
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Kevin Xu

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I see. Any ETA on the payroll module?
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John G, Information Support Analyst

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Hi Kevin,

We do not have an ETA for the next updates.  

As this is a "cloud product" do expect upgrades more frequently than the yearly upgrades you may be familiar with our desktop products - we expect it will be every few months.  We will inform users of upgrades by email ahead of time.  

regards,
John

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Qwerty

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Hi Kevin,

Regarding the second part of your question, the time & expense module has been released (back in Sept/Oct 2014) & allows you to setup employee contacts.

Currently employee contacts can be used in expense claims, timesheets & payments.

The payroll module is not yet available though.

Cheers.

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