Spend Money window details

In the Spend Money window, you can choose to select a card from the Card File list so that the transaction will appear in the list of all transactions that are linked to the card or you can choose not to use a card and simply enter the payee's name in the Payee field. You might want to enter the payee's name and not create a card if the transaction is a one-time transaction -- a donation to a charity, for example.

Warning: Spend Money transactions can't be used to close purchases

If you've recorded orders or purchases for suppliers using the Purchases command centre, in order to make payments to the orders or purchases, you must enter the payments using the Purchases command centre -- the Pay Bills window or the Purchases Register window.

Spend Money transactions can't be used to close purchases or make payments to orders.

Mark the VAT Inclusive check box if the amount you want to enter for the line items of the Spend Money transaction already includes the VAT amount. For example, if the amount of a line item you want to enter is £500.00 and the £500.00 amount already includes VAT, you'll mark the VAT Inclusive check box. As a result of marking the VAT Inclusive check box, the total amount of the Spend Money transaction is £500.00. (The GST amount included in the £500.00 is £74.47.)

Once you mark the VAT Inclusive check box, it remains marked until the end of your session or until you change it.

You'll leave the VAT Inclusive check box unmarked if you wish the total amount of the transaction to increase by the VAT amount that is allocated to line items. For example, if the amount of a line item is £500.00 and VAT is charged on the £500.00, the amount of the Spend Money transaction is £87.50, that is, £500.00 for the line item + £87.50 VAT.

To indicate which accounts will be affected by the transaction, simply enter accounts in the Allocation Account column and amounts in the Amount column.

The amount you entered in the Amount field in the top half of the window is considered a credit amount, and the amounts you enter in this column are considered debit amounts.

Keep in mind that the amount(s) you enter in the Amount column will accumulate in the Total Allocated field and that the Total Allocated amount must equal the amount that appears in the Amount field in the top half of the window before you can record the transaction. The Out of Balance amount must be zero before you record.

Choose Recap Transaction from the Edit menu to view the accounting entries that will be made to your financial records when you record the transaction.

Mark the Already Printed option if you're recording a paper cheque that's already been written, or if you're recording another type of transaction (such as a petty cash payment) that doesn't require a printed cheque at the end of the transaction.

Click below for the step-by-step procedure:

Creating a Spend Money transaction