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J
Jroberts2004
July 20, 2021
Question

Double payments

  • July 20, 2021
  • 1 reply
  • 0 views

Going through 2019 old invoices and clearing the "amount owed"  from invoices by manually receiving payments to current bank account. Previously my husband added deposits through his bank account.  now while trying to do 2021 Jan-Mar gst the profit/loss is showing 300000 in exemptions with 17k in gst owing.  How do I properly allocate the funds.  For instance an invoice for 100k would have 80k of that going to our supplier.. am I missing a proper contra account.  Please help 

1 reply

Noelia Nievas
Noelia Nievas
July 20, 2021

Hi @Jroberts2004 

 

thank you for reaching out to the community. It is always important to use the correct accounts and making sure everything is recorded properly.

 

Because this transaction falls into accounting territory, it's best to reach out to your accountant to make sure all the appropriate accounts are adjusted as they are trained on how to do this. If you don't have an accountant no need to worry, we can help. You can go to My Accountant>Find a pro to help to find an accountant in your area.

 

Noelia

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