Reckon Accounts Hosted - Entering bills as expenses versus items

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  • Updated 3 months ago
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We recently moved to Reckon Accounts Hosted 2018 from Reckon Accounts Premier desktop.

At the moment we enter bills as expenses however a lot of the time we need to know what is on a particular bill. We usually have to go into the files, find the invoice and then we have our answer.

Is there going to be an issue changing the way we do things? As in entering them as items.
We buy bulk so not all items listed on the supplier bill are charged to one customer and we don't have inventory.

Will entering the bill differently change the way we see it in reports?
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Darian

  • 70 Points

Posted 3 months ago

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If you are wanting to track Items for easy identification, when re-ordering for example (eg specific office supplies), using Items will certainly help there.

In addition, providing you are consistent with your use of buying-in & on-selling of Items, you will be able to see:

  • when/how often each item is purchased,
  • the cost price on each occasion 
  • the quantity bought each time

as well as the same detail on the Sales side. 

Inventory Items will specifically track quantity levels, other Item types won't.  However, you can still see quantity & price amounts.   

This is all valuable information but .... ensure you use the SAME Item (set up for both Sales & Purchases) each time whenever it's bought or sold to maintain the accuracy of your Item records.