Hi there. I am wondering which option I should be using when say recording something like a yearly back up fee. When I first started, I was setting up the supplier and then creating an invoice (even though there was none), then paying the invoice but now I have started recording just a money paid out entry and I have even started just using a general transaction entry but you can't record a supplier next to it that so I just wondered what I should be doing for these sorts of payments. Many thanks
Hi Deborah,
You can think of the 'Money Paid Out' window as a 'General Transaction' with a few extra fields such as Supplier name and VAT Treatment. In your case it is probably simplest to record a Money Paid Out transaction with the Type set to 'General Payment'. This allows you to associate the transaction with a supplier, but doesn't require the hassle of recording a purchase invoice.