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Problem:When the director uses his funds to make a payment to the accountable person, how should this be recorded in the software?

Solution: There is no direct way, around need to be created to do the transaction i.e. creating off-balance bank account which should not reflect in the report but cash out

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2, How can a director record a payment made from personal funds to an accountable person in the company?

Solution: Create a temporary bank account in the software to track the director's funds. Record the receipt of these funds, then use this account to pay the accountable person. Later, reimburse the director from the company's main account.

Create a new Bank Account as a Transit Account. Choose the GL of this account as 'Money in Transfer'

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This Transit Bank Account should be linked

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to the new GL Account.

3,

Create

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bank receipt documents for the funds received from the director, choose Others as the transaction type

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, and use the new Transit Bank account

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(the company received funds from the head):

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On the second tab, specify the account you need and the person (company) who made the payment.

4,

Create a Bank payment document for

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transferring funds from

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the Transit bank account to

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the accountable person

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i.e. Employee business expenses. This transaction is as if the company sent money to the employee

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The entry- DR Prepaid Employee Business Expenses

CR Money in Transfer

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The transactions described above will be reflected in cash as follows

6,

Create an

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employee expense report. This document is used to record business expenses incurred by employees, either for expenses covered by an advance that was previously issued or for costs that will be reimbursed by the company.

Specify the bank document.Image Removed
And his expenses.