Paying for a purchase using sales income
Hi I have entered a purchase from a supplier using the Purchase register. However the payment for that purchase was made using cash income from the Sales register and i dont know how to record it. I dont want to record the payment as a negative on the sales transaction as i want to be able to go to the Purchases register and see every purchase listed against that supplier with their invoice number so I can clearly reconcile. The cash was not deposited and then used to pay by bank transfer, it was paid directly to purchaser. Can someone please help? Many thanks Katie
Hi KatieT
By default there is the Undeposited Funds account set up in AccountRight, you can check your current set up via Setup > Linked account > Accounts & Banking Linked Accounts. When recording payments/money received, tick the 'Undepositied Funds' box will receive the payment into the linked account, which can be deposited to the main bank account later. Therefore, you can also consider using the undeposited account as the paying account for the bills.
Once the payments are all recorded, go to Banking > Prepare Bank Deposit, tick the positive and negative figures to deposit the net amount to the bank.
