Other Names List purpose
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
Comments
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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.0
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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)"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
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Thank you for your feedback. Very much appreciated.0
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