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Yes, I'm here to share with you the ways to complete your three tasks, @tembeaqbo.
First, let's either create a check or an expense to record the cash withdrawal from the bank. Just make sure to choose the appropriate Bank Account.
Second, let's create a journal entry to record the advanced cash to the staff. Before that, you'll have to set up a liability account for the amount you owe to the staff. Also, add an expense account for the activities implemented by the staff. I'd suggest consulting your accountant to determine the appropriate types for these two accounts. They can also help you assist when creating the journal entry. Please make sure to switch from a Business view to an Accountant view. Once verified, proceed with the steps below.
To create a journal entry:
The screenshot below shows you the last seven steps.
Third, you can pay your staff through a check or an expense when he/she liquidates the activities with receipts. I'll guide you how.
I've attached a screenshot below to show you the last five steps.
Once done, let's run and customize the Transaction Detail by Account report. This lets you review your staff reimbursements in the program. For more information, see the How to check your employee reimbursements section through this article: Reimburse An Employee.
Moreover, it's a great business practice to avoid mixing business and personal expenses. But there may be times where it's necessary. With this, I recommend visiting this article: Mixing Business and Personal Funds Overview. Just click the two links under the Mixing business and personal funds - owners or partners section.
I'm always here to help if you need anything else. Have a great rest of your day, @tembeaqbo.
Yes, I'm here to share with you the ways to complete your three tasks, @tembeaqbo.
First, let's either create a check or an expense to record the cash withdrawal from the bank. Just make sure to choose the appropriate Bank Account.
Second, let's create a journal entry to record the advanced cash to the staff. Before that, you'll have to set up a liability account for the amount you owe to the staff. Also, add an expense account for the activities implemented by the staff. I'd suggest consulting your accountant to determine the appropriate types for these two accounts. They can also help you assist when creating the journal entry. Please make sure to switch from a Business view to an Accountant view. Once verified, proceed with the steps below.
To create a journal entry:
The screenshot below shows you the last seven steps.
Third, you can pay your staff through a check or an expense when he/she liquidates the activities with receipts. I'll guide you how.
I've attached a screenshot below to show you the last five steps.
Once done, let's run and customize the Transaction Detail by Account report. This lets you review your staff reimbursements in the program. For more information, see the How to check your employee reimbursements section through this article: Reimburse An Employee.
Moreover, it's a great business practice to avoid mixing business and personal expenses. But there may be times where it's necessary. With this, I recommend visiting this article: Mixing Business and Personal Funds Overview. Just click the two links under the Mixing business and personal funds - owners or partners section.
I'm always here to help if you need anything else. Have a great rest of your day, @tembeaqbo.
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