Forum Discussion

BMX1's avatar
BMX1
Contributing User
3 years ago

Funds transferred to Employee to purchase Supplies

Hi,   I have been advised that $100 was transferred to an employees Bank account, so that they could purchase supplies for the Business, as the employee had lost the business credit card.   The e...
LRBooks61's avatar
LRBooks61
Ultimate Cover User
3 years ago

Hi

you should record the transaction as a spend money for the entire $100

allocate the $90 to the expense account for the purchase and the $10 as per you want to handle it. A loan to the employee? Has it been paid back?

 

 

if the $10 was paid back allocate the withdrawal and the deposit to the same gl account

 

hope that helps

Lisa

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