what are the steps for deposit money in a separate bank account ; steps for Purchasing a bag using EFTPOS; and steps for drew cash (electronic payment) for personal use?
Here I have a question to ask...hope someone can reply me the answer... Isn't means the amount that don't have any invoices then I just have to direct use the transaction of "spend money " or "received money"? example: 1. Bank fees, the service charge from banks which charge the fees from our account... 2. withdraw cash, isn't i just need use the transaction about "spending money" or "bills"?
Hello Jacie For everything that you have mentioned I would record them on bank feed. Bank fees > Bank Feed the service charge from banks which charge the fees from our account> Bank Feed 2. withdraw cash, isn't i just need use the transaction about "spending money" or "bills"?> Bank Feed
Not quite what I was looking for. Its a bit complicated for a first time view, from someone who does not understand double entry. Try having an Expense on paper, and show how to pay it. That would be more helpful. And what about having a cheque in front of you, and how you would enter that. Many thanks.
Hello Pam - I do have many other videos. If you email a scanned image of one of your expenses I will make a video for you. Contact me at www.heathersmithsmallbusiness.com/ and let me know I mentioned this
hi, I have a task , the transaction has non-sufficient fund stated on its reference, when doing bank recon, how you treat/record this kind of transaction?thanks
Hi, hope someone can reply me the answer. If the case we have the record of Spend money from a Supplier but the bill hasn't been entered. Do I really have to enter Bill invoice or this is ok to go for reconciliation? And then, with the new version of Xero now, if the Bill Paid in Purchase does that mean the Bill Approved changed into Bill Paid when we paid the acct payable?
Hi Heather. Great vids got me going nicely on Xero. Can you answer a question for me. By the way I am not an accountant. In my new business we have money that comes in to our bank from a support agency. This money goes out to our clients (not income to us). I guess I need some sort of sundry creditor account but can't suss how to do it. What would you advise?
Not audited at the moment but will be eventually. These monies are things such as housing benefit and home set up allowances (our clients are new out of the care system or homeless). Multiple clients and multiple agencies sending the monies in.
You really need to check if you need a specialised TRUST - this is a whole different ball game - talk to your tax accountant or legal advisor about that. It may change the response. It sounds like to me you need that. You can contact me here: heathersmithsmallbusiness.com/contact-me/
Thank you for this! Very helpful
what are the steps for deposit money in a separate bank account ; steps for Purchasing a bag using EFTPOS; and steps for drew cash (electronic payment) for personal use?
Hi, Heather, thanks for your email. Can I ask why prepayment is shown in the P&L instead of B&S? What is the general journal for the transaction?
Here I have a question to ask...hope someone can reply me the answer...
Isn't means the amount that don't have any invoices then I just have to direct use the transaction of "spend money " or "received money"?
example:
1. Bank fees, the service charge from banks which charge the fees from our account...
2. withdraw cash, isn't i just need use the transaction about "spending money" or "bills"?
Hello Jacie
For everything that you have mentioned I would record them on bank feed.
Bank fees > Bank Feed
the service charge from banks which charge the fees from our account> Bank Feed
2. withdraw cash, isn't i just need use the transaction about "spending money" or "bills"?> Bank Feed
very nice & informative , madam sister .
Thank-you
Hi Heather, could you please show how to enter unexpected spending/receiving funds Thanks.
Not quite what I was looking for. Its a bit complicated for a first time view, from someone who does not understand double entry. Try having an Expense on paper, and show how to pay it. That would be more helpful. And what about having a cheque in front of you, and how you would enter that. Many thanks.
Hello Pam - I do have many other videos. If you email a scanned image of one of your expenses I will make a video for you. Contact me at www.heathersmithsmallbusiness.com/ and let me know I mentioned this
hi, I have a task , the transaction has non-sufficient fund stated on its reference, when doing bank recon, how you treat/record this kind of transaction?thanks
Thank you i appreciate the video
Thank-you Marcus
Thank You very useful
thank-you
How to make payments such as for the bank charges, net wages payment, and employee tax payments. Thanks.
Ranjeet I suggest you subscribe to my channel and watch the other videos.
Thanks for sharing, but this video is not as clear as the previous setting up one.
I mean, the logic behind each method is not so clear.
Hi, hope someone can reply me the answer. If the case we have the record of Spend money from a Supplier but the bill hasn't been entered. Do I really have to enter Bill invoice or this is ok to go for reconciliation?
And then, with the new version of Xero now, if the Bill Paid in Purchase does that mean the Bill Approved changed into Bill Paid when we paid the acct payable?
If you don't want the detail it is OK to use Spend Money. I don't understand the second part of your question. An approved bill is paid.
blurry to 3.38 adjust a little more sweet
If you het the bolt at the bottom left of the screen - from the pop up menu you can choose HD almost immediately and that will help on all videos.
Hi Heather. Great vids got me going nicely on Xero. Can you answer a question for me. By the way I am not an accountant. In my new business we have money that comes in to our bank from a support agency. This money goes out to our clients (not income to us). I guess I need some sort of sundry creditor account but can't suss how to do it. What would you advise?
It sounds like it is TRUST money and should go through a TRUST account? Is it audited?
Not audited at the moment but will be eventually. These monies are things such as housing benefit and home set up allowances (our clients are new out of the care system or homeless). Multiple clients and multiple agencies sending the monies in.
You really need to check if you need a specialised TRUST - this is a whole different ball game - talk to your tax accountant or legal advisor about that. It may change the response. It sounds like to me you need that. You can contact me here: heathersmithsmallbusiness.com/contact-me/
Thanks Heather. I will speak to the local authority first and see what is expected of these funds going forward.
Excellent!