Create a new Journal Entry
Accounting --> Journal Entry
- Fund = Commission or if the deduction accounts are in your general/operating fund choose general or operating
- Date = Transaction Date
- Reference = Cheque Number
- Memo = Reason for the deposit to the account, i.e. Agent deposited more to tax account
- In the lines tab
- Click in the grid – new blank lines will appear
- Enter Line 1:
- Account = Agents Deduction account (i.e. Donations – Agents Name)
- Enter a Description, can be the same as the above reference if you like
- Credit = Amount of the cheque.
- Enter Line 2:
- Account = Undeposited Funds OR Bank Account (if you don’t use the Bank Deposit functionality)
- Enter a Description, can be the same as the above reference if you like
- Debit = Amount of the cheque.
- Save & Post
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