One of our suppliers was paid via our parent entity how do you key this in reckon accounts. Would I

Sasha23
Sasha23 Member Posts: 59
edited February 2020 in Reckon Accounts (Desktop)

Comments

  • John Gibson
    John Gibson Accredited Partner Posts: 47 Accredited Partner Accredited Partner
    edited March 2019
    Yes, plus you need to clear the Bill from your system...Generally I recommend to clients that they 'Pay' the Bill via a dummy bank account (or 'Cash Account') then do a journal debiting the dummy account / crediting the parent entity account (could be liability or asset account depending on the current inter-entity loan balance). The parent entity would (should) in their accounts be allocating the payment directly to 'Loan (your entity)' (and not to an expense account) if they are going to recover the funds from your entity at some stage.


  • Sasha23
    Sasha23 Member Posts: 59
    edited February 2020
    Great thanks John I actually processed these payments as per your advice. On another note if a personal credit card was used to pay these bills would I process this the same way