Spend Money and Receive Money

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Gagan Bijan
Gagan Bijan Member Posts: 2 ✭
edited August 2020 in Reckon One
Hi, As reckon One gives an option to setup books on cash basis, is it possible to pay expenses out of bank and receive money in bank without having to add bills and invoices in first place?

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  • Spilly
    Spilly Member Posts: 182 ✭✭
    edited August 2020
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    Yes, Buying > Make Payment > Add & Selling > Receive Money > Add
  • Gagan Bijan
    Gagan Bijan Member Posts: 2 ✭
    edited May 2016
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    Add will mean that the invoice has to be added along with details of the contact. Also the dropdown allows you to make payments to suppliers only. Does not solve the problem.... 
  • Spilly
    Spilly Member Posts: 182 ✭✭
    edited August 2020
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    It's not an invoice or bill, if you dont wish to add every contact create misc. contact. On the screen you have 2 choices (Allocate & New tabs) select new, you can either use items or accounts to assign the income or expense.
  • Qwerty
    Qwerty Member Posts: 261 ✭
    edited March 2017
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    06 May 2016

    Hi Gagan,

    Both the receipt form and payment form have two sections (tabs) at the bottom.
    * Use the New tab if you want to record money in/out that isn't associated to invoices/bills.
    * Use the Allocate tab if you want to record money in/out that is associated to invoices/bills.


    Cash basis vs accrual basis only affects how reports show money in & money out.


    Contacts can be setup as either:
    * Customer only contact
    * Supplier only contact
    * Both Customer & Supplier contact


    In the scenario where you'd like to record money in/out without specifying a contact, this can be achieved using a journal.


    I've previously read similar community threads that relate to this topic.

    https://community.reckon.com/reckon/topics/to-enter-a-transaction-you-must-select-a-contact-that-is-a-customer

    https://community.reckon.com/reckon/topics/why_is_it_that_we_have_recorded_a_payment_but_reckon_then...

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