I'm using Reckon Accounts hosted; up to date version. It is a mortgage loan account which is used for redraw all the time. Categoried as "other liability" there is no option for online banking downloads. Customer service was unable to help. Surely there must be a solution!
Hi Jenni - there is no problem with you editing the Other Current Liability account and changing its type to a Bank account as suggested by Kevin - it will show in the Balance sheet with a negative balance (Like an overdraft account or Line of Credit) and then you can add the online banking details as you wish to. The only variation you may find is that your accountants year end financial statements will move it to the Liability section of the Balance Sheet - you could do this as a single journal if you wish for it to match their reports exactly - and then auto reverse it on 1 July and continue putting all transactions through the bank account during the year. This is what I have always done for all my clients who operate their liabilities with more than just general loan repayments. There are some types of transactions that can only be done with bank accounts, so they are more flexible to be operated as such in Reckon. Cheers Linda