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Reckon Toll Free Number - Reversing
Unpresented Cheques or Bank Transactions in Reckon Accounts Business
This is an issue which is faced by
the users of Reckon software. You can come across this issue when you have
un-cleared transactions in your bank reconciliation which are either old
un-presented Cheques or even old un-cleared expenses.
You would face the problem of
un-presented Cheques being there in your bank reconciliation if the Cheque is
un-presented or even when it is a duplicate entry in Reckon. It is also
important to keep in mind that Under the Cheques Act 1986, a Cheque would be
considered stale after a period of 15 months.
Un-cleared expenses, if only a day
or two old would be fine, otherwise it could be the result of a duplicate
transaction or an error that has taken place.
It is also suggested that you do not simply delete or void the transaction. If these transactions is in the previous GST or the previous accounting period, then this could affect the GST returns, management reports or even the tax returns which are already lodged. The best way to get over this situation is by reversing the transaction in the current period. Users also have the freedom to promptly ring up the Reckon Tech Support and know more in detail about the software.
Solution to this problem
The steps that you can undertake to
solve this specific problem is as given below:
Note the Initial Entry
You would have to open the Cheque
which is now stale and the not what account it has been allocated against and
the amount of GST.
Reverse with General Journal
You would then have to prepare a
journal entry via the company and then by the option of ‘Make General Journal
Entry.
Document the change that you have made
It would be ideal for you to go
back to the original Cheque and then add a note on the memo saying ‘Cheque
Stale- Reversed DD/MM/YYYY. Doing so would ensure that a note is made to the
customer/supplier record.
Clear the transaction in the Bank Reconciliation
Now you would have to remove the
transaction from your back record. While you are doing the next bank rec,
ensure that you click on the transaction on both sides and make sure the value
is equal.
Alternative Options Available
Other options that you can consider
while making this transaction is as given below:
·
If the initial transaction is a Bill payment
and you have used your credit card, then you can use a credit card
Refund/Credit instead of the Journal Entry.
·
If the initial entry made was a deposit,
then you can apply the same process. Except the only change would be the
General Journal Entry in Step 2 would be reversed.
·
If you see that the initial entry consists
of inventory items, then the process would be a little more complex as the
initial adjustment to inventory would have been adjusted by a stock take.
·
If the initial entry was a sale which
involved inventory items, then you would have to reverse not only the sale but
also the inventory movement.
If you find that following these given steps is a task, then you should immediately connect with the Reckon Customer Support Number
Which is available throughout the day and is completely
free of charge.
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Source URL: Reversing
Unpresented Cheques or Bank Transactions in Reckon
Accounting with Reckon on Windows | 1800-954-489
Reckon Tech Support
Reckon is one of the most
proficient accounting software that is available in the market at present. They
have been providing the users with best in class accounting services which has
been aiding them to handle all the accounting aspects of their business. Reckon
is a cloud-based accounting software which has been developed by an Australian
software company. Accountants, Bookkeeper and those who handle small and medium-sized
businesses are the ones who have benefitted the most from this software. Reckon
on has been giving a neck to neck competition to competitors like QuickBooks,
Quicken, Sage, etc. The most amazing factor about this software is that it
comes with an easy to use and friendly user interface.
This gives those who are not well acquainted with accounting also the assistance in handling their accounts efficiently. Having a clear and organized account of your functioning helps the users in several ways. This software also provides the user with the facility of multi-user capacity. You can attain more information about this software any time by simply connecting with Reckon Customer Support where the executives would provide you with all the necessary information in detail. The Reckon support Australia provide all the necessary solutions that the user might come across in the aspect of accounting on windows. There are often several issues that the users face while using the Reckon accounting software on windows which would often become a huge headache for the users and would also put the functioning of the business into a stand still.
Some of the most common issues that the users face
while using Reckon on Windows are as given below:
·
Issue while trying to set up and
installation of Reckon software on Windows
·
Problems faced by users when they try to
log in, retrieve or even change the password of their Reckon Accounting
software
·
Issue when the users try to sign up in the
software
·
The users facing slow performance issue
while working on the multi-user mode on this Reckon accounting software
·
Difficulty in the process of
synchronization with the cloud while using the Reckon software
·
The trouble in transferring or exporting
files that you have made using the Reckon accounting software.
When the users are caught up with any of the above-given issues, it would often create a lot of frustration for the users. If you find yourself in such a position during any time while using the Reckon Accounting software it is best suggested that you connect with the Reckon Customer Care Number and avail all the possible assistance from the trained professionals. This service is available on a 24x7 hour basis and while the user avails this service it does not charge them with any kind of cost. This gives the users the benefit of resolving the problem that they have come across without having to burn a hole in their budget.
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Source URL: Accounting
with Reckon on Windows
There are some updates that were done in the Reckon One bank reconciliation process. The layout and the changes that are done will for sure make it more easy and intuitive to make sure that the transactions done in your bank statement are in Reckon One. Some of the key changes and features that have been included are as follows. The transaction screens and the layout has been improved. This includes that you can now have a glance at the account balance and running balance at a glance. The transaction status such as Uncleared, Cleared and Reconciled have been introduced.
With the help of accounting software you can easily manage the accounting needs and issues, and also the financial statement of your business. It is a solution which is required for every organization. Reckon accounting software is one version which helps in this process. Many people nowadays upgrade applications to get the best and advanced results. This blog will help you to understand the process of how to upgrade the Reckon One bank reconciliation. And if you need any further information, then contacting the team of accounting specialists at Reckon Customer Care can be treated as an option.
Here are some key changes that were done in the Reckon One accounting software:
What are the steps to keep in mind while upgrading Reckon One Bank reconciliation?
The process given in this blog will help you to understand the solution and manage it. Sometimes, users can get stuck in a few steps. It is required to take the help of experts at this time. Instant and certified help is available through Reckon Tech Support Number You can reach out to them at any time you want as the adepts are available at your service 24X7. These experts are well-versed with all kinds of issues with the Reckon software and can guide you in a proper way.
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Source URL: How to Upgrade Reckon One Bank Reconciliation