How to transfer from account

We have setup accounts for equipment, materials and labor, which receive the amounts from invoices for the appropriate items. Now, these accounts hold the correct totals, but in our operations we want to use monies from the appropriate account to pay for expenses. For instance, we want to pay for materials from the materials account, and labor from the labor account. We want a debit to be shown directly from the appropriate account, although it is the bank account that will ultimately be debited.

Can anyone help me achieve this?

Thanks in advance,

Mervin Williams

Reply to
mervinwilliams
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If you set these accounts up as sub-accounts under the bank account you would be able to pay out of any of them, with the actual account balance shown in the main bank account & reconciliation done in total also through the main account.

Scott out.

Reply to
Scott

What exactly do you mean "pay for materials from the materials account"? Technically "materials" is an expense... Do you set aside funds to separate bank accounts for materials and labour?

Please provide additionall information as to what sorts of accounts you are talking about. Do you have more than one bank account?

Stephanie Serba, ICIA Durham Bus> We have setup accounts for equipment, materials and labor, which

Reply to
S.M. Serba

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