Other Names List purpose

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  • Updated 3 months ago
Hello

I am using Reckon Account Hosted and was hoping that you can direct me to information relating to the purpose of the Other Names List'. I have tried searching but cannot find information explaining this or giving examples.  Thank you
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EHSS

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Posted 3 months ago

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Tanya Briggs, Accredited Partner

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I use it to create payees for bank charges, interest etc.  Names that you don't need to appear on any supplier reports.

Hi Creena

The purpose of the "Other Names" is for those that aren’t customers, suppliers or employees such as Partners of the Business, "Cash" for ATM Withdrawals etc.
I also use them for clearing, account (eg “ANZ (Bus>Pers)”) or bulk transfers (eg "Wages TXFR" & "SBSCH TXFR" (To the Super Clearing House).  I have the individual employee/super fund payments being paid out of a "Clearing" bank account & do a bulk "Write Chq" transaction from the main account (as per the lump sum amount) posting back to the Clearing account.

I prefer to have any entity that is being “paid” as a “Supplier” & therefore have bank charges/interest under the applicable bank "Supplier" & any Interest received under the applicable bank "Customer".  I use "(c)" or "(s)" if necessary on the list name to differentiate or where I want specific transaction auto recall, I have multiple Suppliers eg "ANZ (Int)" & "ANZ (Fee)"

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EHSS

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Thank you for your feedback.  Very much appreciated.