How do you classify a bank transaction that isn't considered an expense or income but involves the receipt of funds that represent an account payable from a client (or a bank withdrawal that constitutes an account receivable for a client)?
If you are referring to something like an invoice payment, I would log a payment to the open invoice. Then, you should be able to match the transaction to that invoice payment. If it is a vendor payment, you can do something similar by entering a bill and bill payment into the system and then you can match the transaction to the bill payment.
Case #1 It would resemble more of a loan extended to a client (account receivable for a client - representing money disbursed from a bank account). case#2, it could be seen as a loan from a client (account payable - signifying money received into a bank account).
Thank you
How do you classify a bank transaction that isn't considered an expense or income but involves the receipt of funds that represent an account payable from a client (or a bank withdrawal that constitutes an account receivable for a client)?
If you are referring to something like an invoice payment, I would log a payment to the open invoice. Then, you should be able to match the transaction to that invoice payment. If it is a vendor payment, you can do something similar by entering a bill and bill payment into the system and then you can match the transaction to the bill payment.
Case #1 It would resemble more of a loan extended to a client (account receivable for a client - representing money disbursed from a bank account).
case#2, it could be seen as a loan from a client (account payable - signifying money received into a bank account).
I have a chart of accounts excel . How can I upload on Zoho?