Entering purchases and payments at the same time is a common scenario for bookkeepers who run creditor systems and make entries after the fact. In businesses where there are divisional accounts, there are often different bank accounts for each division. I'm not talking huge businesses here, they will probably have real time invoice entry.
The main reason for the purchase invoice to be entered is to track stock, or to track purchase history from a supplier. AccountRight has no card history when entering via the bank - the purchases history is all based around creditors (I might bring that up in another post).
Back to your comment Dan, do you think the bank feed is smart enough to recognise each paid invoice and allocate the payment quickly? I like to enter the payments as I go so that I know what's outstanding at any given time but others might use the bank feed first.
Related Content
- 4 years ago