When using a manual, non-computer accounting system, and you make a payment via EFT to pay wages, would you use "B/S" in the folio section of the Cash Payments Journal?
So, I make a payment for $550 to a supplier for inventories on the
01/05/20X1 and then on the 02/05/20X1 I pay wages for $400 by EFT, my Cash Payments Journal would look like this???Date Folio Paid to: Purchases GST Amount Account Bank
01/05 00001 Supplier X 500 50 550 02/06 B/S Wages 400 24200 400So my reference for EFT is B/S for bank statement? Is this fine?
Cheers.