The company bought something for an employee through the business (it has nothing to do with the business, just that we have an account with the supplier and our employee doesn't), the employee has repaid the business the costs of this in cash. When I record the cash payment into our account, how do I categorise this and what VAT code would it have?
Hi Roseanne_H You should recorded the initial expense when you purchased the item from your supplier. You could create a deposit and in the account column of the 'add funds to this deposit' section enter the same account/category that you used in the initial expense and select No VAT in the amounts are field and then you will be able to match the deposit with the amount showing in your bank.
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