kayu-pete
2 years agoUser
What does 'Account' mean when creating a bill?
Hi, I've just signed up for myob so learning a fair bit.
I've purchased some adhesive from Bunnings and I'm recording the expense. I classify my adhesive as 'Consumables'. I paid for this from my 'Business Bank Account'
So, I click 'Create bill' and I input the Supplier (Bunnings), Description (Adhesive), Amount ($300), etc.
There is a column/field for 'Account'. Do I enter 'Business Bank Account' as this is where the payment came from? Or do I enter 'Consumables' as this is the type of transaction/purchase I've made?
My thinking...
- If I enter 'Business Bank Account' so I know/record where the payment came from, how do I know how much I've spent on 'Consumables'?
- Conversely, if I enter 'Consumables' I'll know how much I've spent on consumables but I won't know where the payment was made from and my 'Business Bank Account' balance will be affected/incorrect...
Thanks very much,
Pete