Payment Received from a third party
Good afternoon, I have just received payment of one of my invoices from a third party. I am not able to change who the invoice is addressed to, so, how do I record this payment please??
Forum Discussion
Hi wencliff,
Thanks for your post and welcome here to the Community Forum. Thank you for flagging your inquiry with us. We regret that you are having challenges with the third-party payment you received, and we appreciate your understanding during this time.
Regarding your inquiry, you may create a Liability Account >> then make it a Credit card type (this will allow you to process Receive and Spend money transactions from it) then you may record it. You may also find this post helpful to your concerns.
Additionally, in this situation, we do recommend confirming with your accountant about how best to record those transactions based on your business setup and to ensure you are reporting correctly.
Feel free to come back to the Community Forum if you have any more questions, we are more than happy to assist.
If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.
Cheers,
Leneth
