Recording Bank Interest

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  • Updated 3 months ago

I hope you're well in these weird times.

I have what I thought was a simple question but 3 calls to support haven't helped (the first guy sent an email about completely the wrong topic, the second hung up on me after 25 minutes and the third insists it's a question for my accountant).

Each month we get interest on our current bank account balance and I need to know how to record this in Reckon One - we're in Qld, Australia and don't have automatic bank transaction importing setup.

Screenshot from online banking:-

We don't generate an invoice or anything like that and in our previous accounts software I could just add a journal entry.

Trying to do the same thing in Reckon and it's not happy as the journal doesn't balance - the money is a credit for us from an outside source so I don't have an account to balance it against.

I searched the forums but the only thing I could find was which says journals are the right way to do this but then links to which is an error I don't get.

If anyone is please able to give me detailed instructions I'd be very grateful.

Many thanks in advance


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David Coleman

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Posted 3 months ago

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Photo of LyndaC


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Hi David

How I record this and bank charges into the bank account.

In Banking, I go the appropriate Bank account, with Reckon One Trasactions
In the Green box I hit the down arrow for Add Receipt
I change the date
Add the contact as the bank
go down to new
Put the Account as Interest Recieved (Income Account)
GST Code of INP
Then the amount
and Save

Hope this is what you needed


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David Coleman

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Thanks Lynda - that seems to work beautifully.

All the best