Hi there
We have paid a business invoice (expense) using our personal bank account and then transferred the exact amount from our business cheque account to our personal bank account. Can I do a Spend Money for this transaction using the invoice details?
Thank you
Hi Anewbee you can also enter through Purchases as well if that is easier and apply the payment back to the bank account.
Thankyou very much Cloud_Mind
Hi Anewbee you can also enter through Purchases as well if that is easier and apply the payment back to the bank account.
Hi Anewbee
Yes this is fine to transact via a Spend Money. I recommend attaching a copy of the invoice to the transaction as well in MYOB so you have clear explanation and documentation in your software.
Hi Cloud_Mind
Thank you for your helpful advice! I was just thinking because I have the invoice would it be better to enter it through purchases?
Hi Cloud_Mind
Hope its ok to add to this post.
I realised we have paid a business invoice using our personal bank account and then transferred more than the exact amount from our business cheque account to our personal bank account. Would I do a spend money for the invoice amount and do a separate spend money for difference and post to drawings? Or can I do it all on one spend money transaction?
Thank you very much.
Hi Anewbee
It's great to see that Cloud_Mind has provided assistance with this.
Alternatively, to doing a spend money transaction, you could also create a Transfer Money transaction. To do this go to - Accounts > Transfer Money.
See our Help Article Transferring money between accounts for more information on that topic.
