Processing Invoice Payment

[Cam Ellison]

Kurt Guenther wrote:
> I usually get a number of checks at a time that I then deposit at my 
> bank.   I create an asset account "Funds to Deposit" where I put the 
> payments and then I make a transfer from this account to my Checking 
> Account when I make it the bank.
>
> It seems like there should be some work flow around the AR Invoice & 
> payment process which I constructed myself.   Is that the best way to do 
> things?
>
>   
Aye.  This has been discussed a couple of times previously on this list, 
and it's always the same solution: it just makes sense.  What you are 
doing in creating a separate asset account for this purpose is 
equivalent to listing the individual cheques, etc., in your deposit book.

Cheers

Cam



-- 
Cam Ellison  Ph.D.  R.Psych. #01417

Cam Ellison & Associates Ltd.
Management Psychology

3446 Beach Avenue
Roberts Creek  BC  V0N 2W2

Phone: 604.885.4806
Fax:   604.885.4809
Cell:  604.989.0635