retained earnings and accounts payable/receivable
Options
K Cossey
Member Posts: 21 ✭
Hi
I am setting up a new account in Reckon Accounts Plus 2016. For other accounts I have set up the default Opening Balance Equity returns to Nil once I have all the balances set up correctly. This time it is out by the Accounts Receivable minus the Accounts Payable amount. When I click into the Opening Balance Equity Account I can see all my other balances but not Accounts Payable and Accounts Receivable balances. Is there some journal I am meant to do to bring these amounts into Opening Bal Equity?
Thanks
I am setting up a new account in Reckon Accounts Plus 2016. For other accounts I have set up the default Opening Balance Equity returns to Nil once I have all the balances set up correctly. This time it is out by the Accounts Receivable minus the Accounts Payable amount. When I click into the Opening Balance Equity Account I can see all my other balances but not Accounts Payable and Accounts Receivable balances. Is there some journal I am meant to do to bring these amounts into Opening Bal Equity?
Thanks
0
Comments
-
Thanks for helping. Yes, that's how I entered my oping balances for accounts receivable and payable. I created a customer and a supplier and set the opening balance at the 1/04 to be the amounts owing. Maybe I should have dated it the 31/03?
I'll try that. ..
Nope that didn't work. The two balances show in the chart of accounts but they don't appear anywhere i the Opening Balance Equity Ledger. Are they meant to?
I'm a bit of a newbie so I'm probably missing something basic...
Thanks again
Karen
0
Categories
- All Categories
- 6.4K Accounts Hosted
- 10 📢 Reckon Accounts Hosted - Announcements
- 5.9K Reckon Accounts (Desktop)
- 3 📢 Reckon Accounts Desktop - Announcements
- 1.3K Reckon Payroll 🚀
- 21 📢 Reckon Payroll - Announcements
- 21 Reckon Payroll Help Videos 🎥
- 21 Reckon Mate App
- 3K Reckon One
- 7 📢 Reckon One - Announcements
- 10 Reckon Invoices App
- 14 Reckon Insights
- 107 Reckon API
- 822 Payroll Premier
- 307 Point of Sale
- 1.9K Personal Plus and Home & Business
- 63 About Reckon Community