Hi,
I have an issue where i would like to be able to split a bank feed transaction between an income and expense account.
Instance is, where a deposit comes from a Merchant provider, that proivder only deposits the net amount to me. Therefore, it would be handy if i could split the transaction so that i can show the Gross amount to my sales account and the associated charges to the merchant fees expense. I note that both of these are subject to GST, so need the income to be able to be shown at G1 (Gross Sales) and 1A (GST on Sales) on the BAS report, and for the merchant Fees, G11 (Non Capital Purchases) and 1B (GST on Payments) for the purposes of the BAS.
Obviosuly this then shows the trasnaction being technically correct, as it is matching the income and expense by showing the two allocations that the one transaction relates to.
I note that there is software that can handle these sorts of splits of an income and expense in the one transaction, in particular Microsoft Dynamics NAV does this well.
Look forward to hearing from someone.
As a new user of Essentials the functionality to be able to gross up a transactions is also very important for users in New Zealand. We have a number of instances when the functionality to do this at source rather than create a journal would be far more efficient. As a long standing BankLink user this functionality has been available in BankLink for many years. BankLink allows the likes of Amex, Diners, interest less withholding tax and commission payments where deductions have been made to produce a net payment. This is a request for that same functionality so that it can be applied to both manually coded transactions, as well as in memorised/rules processed transactions.
Look forward to this limitation being escalated, as I see the orginal request for this in April 2014.
