Match a Sales Receipt and a Cheque payment to a downloaded bank transaction
When we sell our product I create a sale receipt for the gross amount of the product sold. I then create a cheque to deduct the fees and charges that are deducted from our sale.
Is there any way that I can match the sales receipt and the cheque from the register with the one downloaded bank transaction (which is the net figure of the two entries). If this is not possible what is the alternative entry that I should be making in Reckon so that I can recognise the gross income, deductions and the gst requirements.
Comments
-
Hi Leigh
Personally, I’m not a big fan of Bank Data importing … I guess it makes more sense if there’s a mammoth volume of transactions but there’s too much room for error as it’s often assumed the automation is completely accurate when instead it’s totally reliant on user expertise in terms of setting up correct Rules in the first place!
A Clearing account (eg a dummy “Bank” account) is perfect for these scenarios - You can receive funds (eg “Deposit To” on the Customer Payment/Sales Receipt) from individual or daily Customer Invoices/Sales Receipts & pay Fees etc via “Write Chq” out of this account.
The remaining amount(s) in the Clearing account will equal each net deposit received into the actual main bank account clearing the account back to $ 0.00 each time.
Some people like to use the “Transfer Funds” feature however I find “Write Chq” allows for more detail & is more self-explanatory.
I usually create a specific Customer, Supplier(s) (eg Amazon (Fees)”) & Other Name (eg “Amazon Net Dep”) for these transactions then memorise them as a group in order to re-use as required.
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!)
0 -
Thank you Shaz. That is so very helpful - problem solved!!1
Categories
- All Categories
- 6.9K Accounts Hosted
- 11 📢 Reckon Accounts Hosted - Announcements
- 6K Reckon Accounts (Desktop)
- 3 📢 Reckon Accounts Desktop - Announcements
- 1.2K Reckon Payroll 🚀
- 21 📢 Reckon Payroll - Announcements
- 21 Reckon Payroll Help Videos 🎥
- 21 Reckon Mate App
- 3.1K Reckon One
- 7 📢 Reckon One - Announcements
- 11 Reckon Invoices App
- 14 Reckon Insights
- 114 Reckon API
- 830 Payroll Premier
- 326 Point of Sale
- 2K Personal Plus and Home & Business
- 74 About Reckon Community