Hi, I’m new to this quickbooks and the community. I hope someone could help me and sorry if it’s in the wrong place to ask.
my questions are- if In Bank transaction > and you have in the Action column and it’s Record Trf -
What does it mean and how can all the ledgers be affected on my action.
the end result I guess is getting all to equal. Please could I get some clarification on what happens to all the chart of accounts on the action I need to take.
my second question is if the owner of the business has given a supplier a huge sum to keep on account like an advance on account payment, that amount on account is used to pay for future invoices as they come up.
1) how do I add this on to the supplier account and it also matches with the bank ledger correctly.
2) how can I then match to future invoices using this. But still ok to have the remainder money left on the suppliers ledger?
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