Buying secondhand things
I like to buy useful things for the business secondand, at garage sales etc. $2 to $100 . Unlikely to get an invoice or receipt, don't want to be boring and ask for one. Probs no ABN anyway , def no GST. Don't want to ask their name.
What's the best way to apply these kinds of Purchases? Thanks.
Hi bonzo
Within AccountRight, generally speaking the purchases functionality is generally used for when you have received an invoice which will be paid later or when purchasing items to resell.
In contrast the spend money functionality is generally used when recording incidental expenditure that doesn’t come from an invoice, such as buying the daily coffee.
If you were unsure as to which functionality to use, I recommend speaking with your accountant.
