Purchase Orders in Reckon Accounts Home & Business 2016

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  • Updated 4 months ago
Reckon Accounts Home & Business doesn't have anything like Purchase Orders or Buying Supplies.  What workarounds have people created?  Has anyone tried creating a PO form from the Invoice and managing those separately?
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Robyn

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Posted 4 months ago

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Robyn Kelly (Partner), Accredited Partner

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Is the business on Cash or Accrual for GST?  That makes a difference to how I answer your question.  Hopefully they are on Cash as H&B only supports Cash accounting in theory.
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Robyn

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Hi Robyn, I'd like to do it on an accrual basis: write and send purchase orders and later to record the receipt and payment.
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Robyn Kelly (Partner), Accredited Partner

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One suggestion:

Create a Liability account and an Asset account for the Purchases and Sales you wish to record that are not yet paid or received.  This will then include those transactions in the quarter they are dated.

Once paid or received transfer the funds from the bank account (no tax codes) to the liablity account or asset account to reduce the amount owing or owed.
Hope this makes sense?

Could I please add three big notes of caution:

a) reconcile these accounts regularily to see what's outstanding (should come back to $0 once all paid and received) and

b) Reckon Accounts Hosted or Reckon One programs would be much more suited and beneficial to run these types of transactions through.

c) this is only if the client is on accrual basis for GST - NOT CASH BASIS!!!!!!!!!!

Regards
Robyn Kelly 
(Edited)
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Robyn

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Thanks Robyn.   These are great!  Do you know if Reckon Accounts Hosted and Reckon One have full purchasing and AP & AR functions?
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Robyn Kelly (Partner), Accredited Partner

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Yes they do Robyn

See more information here:
https://www.reckon.com/au/accounting-software/ and here:
https://www.reckon.com/au/accounts-hosted/

I should be able to help further and answer any queries if you need
robyn@robynkelly.com.au

Regards
Robyn Kelly