How to enter when a staff made a payment via personal account for the company
Hi, we are a building construction company, and one of our staff paid the land tax advanced for the company via her personal account, and then the company needs to pay this amount to her personal account as a reimbursement. How can I enter this transaction in MYOB? Thanks in advance.
Hi Lynne_
Thanks for your post. Generally speaking, you could use a suspense or holding type account to record these transactions in AccountRight. For the land tax payment enter a Spend Money transaction, change the Pay From Account to the suspense account and allocate the payment to the applicable expense account.
When you reimburse that amount to the employee, enter a Transfer Money transaction with the Transfer Money From account as the bank account and the Transfer Money To account as the suspense account. This will clear the suspense account back to zero and create a withdrawal in the bank account.
Please let me know if you need further help.
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