Is it possible to link suppliers to their usual expense account?

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  • Updated 2 months ago
I am making the switch from MYOB to Reckon One, slowly.
In general I find Reckon One pretty intuitive and it's not causing me too much starting headaches, but I am missing some really handy shortcuts.
Is it somehow possible to add to a suppliers details a direct link to their usual expense account. Like the petrol station nearby is used by the Motor Vehicle's Fuel Expense account.  So, rather than having to find and select that expense account for every fuel receipt is it possible to have that expense account automatically appear with that particular supplier.
It would be very time saving for repeat transactions.

I also miss the calculator in the enter cost field with payments. I do use it a fair bit as it turns out.
When 15% is business and 85% is private, etc

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Peter

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  • somewhat perplexed

Posted 2 months ago

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Kevin Russell, Accredited Partner

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The bank feeds will do this for you.
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Jason Hollis, Head of Product

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Hi Peter, Kevin is correct. If you use a bank feed, or import a bank file, you can set the rules to apply % splits or use the same ledger account for a supplier. Your idea is slightly different to that though, so to get this idea in front of more users (and our developers)  please take the time to add it to our ideas portal at https://ideas.reckon.com 

Kind regards, 
Jason
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Kevin Russell, Accredited Partner

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That's right Jason. I think some times we over complicate things. The bank feeds work perfectly well. It's one of the great features of R1
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Peter

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Thanks Kevin and Jason.

I do not use the bank feed module (as yet).
If I understand you correctly when using that module then, through my credit card bank statement (in cvs format?), the cost of the a fore mentioned petrol would be linked to the correct motor vehicle fuel expense account in Reckon One?

Reg's
Peter

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Jason Hollis, Head of Product

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Hi Peter. Yes that is correct and as Kevin mentioned you set up a rule to assign any purchase from say Caltex to your MV fuel expense account. You can also assign % splits for drawings. nb. Rules are available with file imports like QIF as Kevin mentioned as part of the core module. To set up automated bank feeds you add the banking module for $5/Mth. Using a file import is often a good start before you move to full automation. 
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Kevin Russell, Accredited Partner

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Precisely my approach Jason. Depending on your number of transactions and how often you process, it's a very simple approach
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Peter

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Thanks Jason and Kevin
Have worked it out, or am working it out. Very handy.
The rules are trial and error, but I can change them as required so that's great.
And the splitting worked a beaut, much easier then using the calculator in MYOB.
Much appreciated
Peter
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Kevin Russell, Accredited Partner

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I am a genius
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Kevin Russell, Accredited Partner

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You can still use rules. Also I strongly suggest using the qif file option. Call me any time to discuss 0407744914