Handling Purchase Advances
gbonnema at xs4all.nl
Thu Jun 20 07:24:00 EDT 2013
On Thu, 20 Jun 2013 16:29:13 +0530
"Sanjay Chakravarty" <sanjaychak02 at gmail.com> wrote:
> Thanks, Subramanian. Only we are unable to setoff 89$ and 11$ against the
> 100$ if we simply record the transactions. If we do as you mentioned, these
> will be 3 unrelated transactions that do not reflect the fact that
> ultimately they have no impact on my finances. I just did a service. I don't
> want to figure these transactions against my income or expenses.
Just book all three transactions in an account that will amount to
zero. A suspense account, like a temporary loan. The 100$ would be an increase
and the 89$ and 11$ a decrease. That way it should not appear as income, but it
is still weird.
If all was in cash, you wouldnt have to register it, because its a null
transaction. Actually, it is neither your money, nor your goods. You are only
registering it, because your friend sent the amount to the bank.
Hope this helps.
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