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rocko81's avatar
rocko81
Contributing User
5 years ago
Solved

Business paying rent.

Hello,

 

My business is paying rent for our office to a Family Trust (not ours). I need to know what to set the card up to to show this.

Are they are supplier or customer or personal? 

I have transfered the amount from the business account & now just need to allocate it correctly from bank feeds. Do i just then do a transfer, spend money or pay bill from the bank feed window.

 

Thanks 

  • bungy15's avatar
    bungy15
    5 years ago

    Hi rocko81 

     

    The family trust is a supplier because you are paying them and it is a business expense.

     

    You could set up a recurring Spend Money transaction. Or if they invoice you monthly, you could set up a recurring Purchase transaction to keep track of the invoices and record a Pay Bills transaction when you pay the invoice.

     

    Cheers

    Tracey

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  • bungy15's avatar
    bungy15
    Ultimate Cover User
    5 years ago

    Hi rocko81 

     

    The family trust is a supplier because you are paying them and it is a business expense.

     

    You could set up a recurring Spend Money transaction. Or if they invoice you monthly, you could set up a recurring Purchase transaction to keep track of the invoices and record a Pay Bills transaction when you pay the invoice.

     

    Cheers

    Tracey

    • rocko81's avatar
      rocko81
      Contributing User
      5 years ago

      Great, Thank you. I was so confused.