Funds transferred to Employee to purchase Supplies

Question

Hi,&nbsp;I have been advised that $100 was transferred to an employees Bank account, so that they could purchase supplies for the Business, as the employee had lost the business credit card.&nbsp;The employee purchased the goods for a total amount of $90 and have $10 remaining.&nbsp;Can you please advise how I should treat the Withdrawal (Spend Money or Bill) for payment of the $90 goods and how I should treat the $10 remaining (Receive Money or Receive Payment).&nbsp;Or is there another method of how to treat the above.&nbsp;Thank you

lrbooks61 · Answer

Hiyou should record the transaction as a spend money for the entire $100allocate the $90 to the expense account for the purchase and the $10 as per you want to handle it. A loan to the employee? Has it been paid back?&nbsp;&nbsp;if the $10 was paid back allocate the withdrawal and the deposit to the same gl account&nbsp;hope that helpsLisa

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Funds transferred to Employee to purchase Supplies

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