Recording Income and Expenses in a Single Transaction

Question

I have received a net payment into our bank account for the sale of cattle, however not sure what the best way is to record the gross value of the sale and the expenses automatically deducted out? At the moment I have entered it via two individual transactions being - 1-Receive Money and 2-Spend Money and will reconcille the two transactions to reach the net figure. My only problem is in doing this, I can't hide/delete the bank feed transaction for the net payment.

Any advice on how I should enter this would be greatly appreciated.

Many Thanks

Anna

lrbooks61 · Answer

Hi Anna,you can record both in a single entry. Just record the deduction from your sales as a negative (-) in front of the amount .&nbsp;should then be able to match against bank feeds&nbsp;hope this helps&nbsp;lisa&nbsp;

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Recording Income and Expenses in a Single Transaction

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