Institute of Certified Bookkeepers
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Company who is a debtor and a creditor

  • Member in Employment
  • 3 posts
  • # 117379


I have a company who is a foreign currency debtor as well as a foreign currency creditor. I have created two seperate accounts in Reckon. They have paid as a debtor directly to Western Union and Western Union have offset these funds against monies owing as a creditor.  Therefore leaving anet balance debited from our AUD bank account.

I really need a bit of help in trying to allocate the the net balance in Reckon.  Some guidance would be very muich appreciated.

Many thanks


  • Fellow in Practice
  • Practice Certificate
  • 49 posts
  • # 117385

Hi Annie,

You need this company set up in Reckon as a Supplier and as a Customer. Enter the Supplier bill.  Enter the Customer Invoice.  Create a Contra Bank account to process the transfer and then use the bank account for the balance. Since foreign currency is involved take care with entering correct dates on the transactions.



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