Setting Up AR & AP

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  • Updated 1 month ago
We finished using Xero on 30/6/19 and set up Reckon Accounts to start on 1/7/19. Is there a set up wizard that allows you to enter individual AR & AP opening balances that allows you to Balance to the AR & AP accounts on the GL?
If not what what is best practice for doing this?
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Jonathan Lucas

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Posted 1 month ago

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Michelle

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Hi I am curious to why the change?  
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Jonathan Lucas

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We are an IT company and have changed our PSA system to ConnectWise which has a native integration to Reckon Accounts. The integration to Xero is very expensive like $500.00 per month.

Xero was not really the best choice for this Company anyway. MYOB or Reckon much more suitable.
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Kevin Russell, Accredited Partner

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Smart move John. Zero is hideously expensive. It's astounding the Coy is still losing money
Hi Jonathan

Agree Xero a drag, but so many accountants are pushing it!!

To answer your question, there is no setup wizard as you call it only as you set up the file to the chart of accounts stage.  I would recommend choosing 'none' for the chart of accounts and set up the ones you had in xero.

As you create your suppliers & customers & assets & Liab. in RA there is a place to create the open balance.

Having said that, you could create any outstanding customer invoices individually using the original invoice dates from xero, this way you would have the same invoice numbers when customers paid and it would be aged correctly as well.