Forum Discussion

Anewbee's avatar
Anewbee
Experienced Cover User
2 years ago

Bank Transaction

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 ...
Cloud_Mind's avatar
Cloud_Mind
Ultimate Partner
2 years ago

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. 

  • Anewbee's avatar
    Anewbee
    Experienced Cover User
    2 years ago

    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? 

     

     

     

    • Cloud_Mind's avatar
      Cloud_Mind
      Ultimate Partner
      2 years ago

      Hi Anewbee you can also enter through Purchases as well if that is easier and apply the payment back to the bank account.

      • Anewbee's avatar
        Anewbee
        Experienced Cover User
        2 years ago

        Thankyou very much Cloud_Mind 

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