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February 24, 2021
Question

Can i record a sale transaction hitting both cash and bank in one entry?

  • February 24, 2021
  • 1 reply
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1 reply

JenoP
February 24, 2021

Hi there, iftakharahmed21-.

 

When recording a sales receipt or receiving a payment, you can only select one account where the fund will be deposited. Although, you can create a journal entry to record a transaction that affects both you cash and bank account. However, it will be counted as part of your sales transaction since it's not hitting your sales or income account.

 

You'll want to reach out to your accountant for further advice on this matter. Let me also share these articles for additional guidance and reference: 

 

 

The Community is always here if you have other questions.