Reckon Accounts Desktop: Handling a Recipient Created Tax Invoice (RCTI)

Legacy KB ID: 4089

Question

How do I enter a recipient created tax invoice that I have received from my customer?

Answer

A recipient created tax invoice contains elements that are contradictory for Reckon Accounts.  Reckon Accounts does not allow expense items with purchase-side tax codes to be entered on an invoice. 

There are a number of ways this situation can be handled in Reckon Accounts.

Users should consult with their accountants on the best way to process this transaction for their business.

Below is a link to one method of replicating the RCTI in Reckon Accounts that Reckon believes will keep the number of transactions to a minimum, properly adjust tax registers and report the transaction properly in Cash basis reports and in the BAS module. 

https://library.reckon.com.au/library/pdf/qbi_RCTI.pdf

Need more help? Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts