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How to enter reimbursement of payments from a builder?

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jimlivfab
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Experienced Cover User
Australia
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How to enter reimbursement of payments from a builder?

Hi, our company is upgrading our building using a builder but have paid for some supplies ourselves and need to be reimbursed for these items via the builder when he makes a progress claim to the bank. The whole project is being mortgaged.

Do I invoice the builder or just email him a payment claim. and when I received the money how do I enter this on myob?

I have entered the supplies as purchase invoices so we can claim the GST.

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Tracey_H
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Re: How to enter reimbursement of payments from a builder?

Hi @jimlivfab 

 

Thanks for your post. In this situation I do recommend you speak to your accountant about how best to record those transactions to ensure they're reporting correctly.

 

Please don't hesitate to post again if you have further questions.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Tracey
Previously @bungy15

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