Hi
I have just set up my business and overall i have put in about 5k with all the set up costs and stuff. I have started to use your software and i`m very inpressed but am i correct in the expence report i put them down as payed from personel account, also i have invoiced my clients which have a 28day payment terms do i put these on accounts receivable,
Many Thanks
Kev
Hi Kevin,
If you have paid business expenses from your personal funds, then record the payment as coming from 'Owners Drawings and Personal Use' (assuming you are self-employed).
When you record an invoice, Solar Accounts will automatically increase the Accounts Receivable account. When you record an invoice payment it will decrease that account.
Regards
