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Unable to explain transactions using preset explanations
Hi
We had some money paid into our bank account by a client that should have gone into another companies bank account.
I have since written a cheque to the other bank account but I am now left with two unexplained transactions - the money in and the money out.
None of the preset explanations seem satisfactory here?
Lewis
We had some money paid into our bank account by a client that should have gone into another companies bank account.
I have since written a cheque to the other bank account but I am now left with two unexplained transactions - the money in and the money out.
None of the preset explanations seem satisfactory here?
Lewis
I’m unsure
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Inappropriate?*shameless bump* -
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Inappropriate?Hi Lewis,
Sorry for the lack of response on our side.
I think this is really a question for your accountant, or you could try our Ask An Expert section on GetSatisfaction. Do let us know how you get on
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This reply was removed on 11/09/08.
see the change log -
Inappropriate?Lewis, I'll try and answer your question but before I do would you satisfy my "professional curiosity" by telling me why you haven't asked your own accountant? -
Inappropriate?Hello :)
Simple answer, we don't have an accountant! Our business is very simple, a few payments in, a few payments out.
I've been teaching myself the basics, from various books. This app is perfect for me, and I sing Freeagent's praises to everybody!
I was hoping that there was a simple answer to this. Maybe 'Other Money in' and 'Other Money out' could have the ability to enter a custom explanation.
Lewis
I’m hopeful
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Inappropriate?I'm guessing that I can use 'Receipt into Contra Account' and 'Payment from Contra Account' to explain the two transactions here?
I’m still hopeful
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Inappropriate?Yes that would be fine. That way you shouldn't see anything on the P&L or the balance sheet.
1 person says
this answers the question
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