New to this software so help please! I am treasurer for a village hall. I withdrew £500 cash from the bank for prizes for the flower show and it shows in the bank feed as a withdrawal. However, when i look at ‘show all purchases’ it doesn’t show up. Should I tag it as something different?
thanks
Hello @culmington
Show all purchases shows a record of the purchase invoices you have recorded from suppliers
I can see on your account you have not raised an invoice for what you have bought and that you have just tagged the withdrawal to the General Purchase code
If you wish to record the receipt you can do this in a few ways
First find the receipt in the bank and Detag it
Then do one of the above
Here is the instructions for the recommended way
A new invoice will automatically be created for you and show in the Show all purchases screen
“General purchases” is usually for items you buy to resell (e.g. buying in drinks to sell from the bar or biscuits for a coffee morning) or ingredients that go into things you sell, basically costs that can be directly tied to specific items of income.
To me, money for prizes doesn’t sound like a “purchase” as such - you don’t have an invoice or receipt from a supplier - but it would be a cost directly attributable to the income from the flower show so it’s reasonable to treat it as some sort of “cost of sales”. Maybe create a new code on your chart of accounts for “event prizes” or similar - still under the “purchases” section (5000-5999) so it shows up in the right part of your P&L report - then tag the withdrawal as “something else not on the list” and assign it to the new code.
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