im using reckon 2013 selling merchandise and advertising spaces , could someone tell me what item to choose for these s

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i'm using reckon 2013 and have just added a new company that will sell merchandise and advertising spaces , could someone tell me what item to choose for these?
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Posted 3 months ago

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Hi Simone

If you need to track the merchandise quantities, set up each individual item as an "Inventory Part", if not, then as "Non-inventory Parts"

Depending on how you "sell" advertising, I would set that up as "Service" Item(s)
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Thankyou so much for your help , while i've got you could you please advise on what to use in the chart of accounts that were pre selected when i created the company account , for instance would i use stock on hand for my merchandise (if it were in stock ) and if you have any further advice on this subject ?

Yes, you could use that account if you've already pre-selected a business CoA setup. 

NB: I always choose "Other/None" at setup & add relevant Accounts as I go.  Because the program was originally US-based, many of the default Accounts created - & there are often a LOT! - are not applicable to Australia.  You can go through the list & "Delete" the unnecessary Accounts - this reduces the list length dramatically & simplifies your system.  You can also re-name any Account to whatever title you prefer.

If you're going to track Stock/Inventory ....
 

  • If you want to get a prompt when that item reaches a certain level, you need to ensure you enter the "Reorder Point" (eg minimum quantity) when you FIRST set up the Item.  Whilst you can edit Inventory quantities/values down the track, the re-order prompt is only able to be set at initial setup.  Afterwards, that field is greyed-out!
  • In order for your Stock/Inventory quantities to be accurate, make sure you use the same Item - setup for both Purchase AND Sale use – on transactions where you buy the Item “In” (Bills, Cheques, Credit Card purchases) & sell the Item “Out” (Sales Receipts/ Tax Invoices, Adjustment Notes)
  • I find it best to group Inventory Items by Supplier & use the Supplier’s Item “Code” as the Item Name.  This allows you to easily view all the Items you purchase from that particular Supplier & minimises confusion as to which Item to use from your list  
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well thanks again , look like i may go back in and add my own relavent accounts , when you say a business CoA set up , i'm lost can you explain please ?
CoA = "Chart of Accounts" (eg your Accounts list)
When creating a new Company File .... It asks you to "Select an Industry from the List" for the purpose of creating a more industry-specific list (chart) of default Accounts.  Right at the bottom of this list is "Other/None" which only creates about half a dozen of these default accounts instead.
(Edited)
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To give a quick background , i will be selling merchandise and banner style advertising , i have not used reckon for this sort of business before , for the last 20yrs i have been using reckon for selling landscape supplies and earthmoving .

“Service” Items are best for non-physical sales eg labour/time (hours), professional fees or in your case, Advertising Space.  Whilst you can still use quantities, these are not tracked - with a running balance - in the system.  You can still utilise a specific service Item that you may buy in & invoice out as above.

“Other Charges” are more one-off or miscellaneous things eg delivery charges, late fees etc    

NB: “Inventory” & “Service” Item types CANNOT be changed to a different type at a later stage!


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Thank you for your time and help today .