A customer paid for an overdue invoice in cash. Instead of banking the money, I added this to petty cash account and have since used some of it to purchase stocks.
How do I now process this in QF?
Hi,
Mark the paid overdue invoice as paid and enter the received amount into your petty cash account within your quickfile banking section.
When you purchase your stock and paid it it from the petty cash account, create a purchase invoice and mark it as paid from your petty cash account. As an alternative you could also create the bank entry in your petty cash account and tag it from there to that invoice or create the invoice during the tagging process.
Hope this helps
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