Beneficiary Payments
The owner of the business has purchased goods from his own personal funds. He does not want the actual cash for it but wishes to put it through the business. How do I go about it? I was wanting to do...
Forum Discussion
Hi craiginoz
There are several ways to do this. One is to make his Beneficiary account into a Bank or Credit Card account type and then it will show in the drop down Pay From list. If the Beneficiary's account is an Equity account type you won't be able to do this. In this case you can use Spend Money and leave the amount as zero and put in a positive amount for the expense and another line coded to the Beneficiary account as a negative amount, effectively creating a journal. Or you can do a journal and code the Debit to the expense account and the Credit to the Beneficiary account.
Cheers
Liz
