Is there a way to journal a payment to another company?

Jenni_9781955

Hi Guys,

My boss accidentally paid an invoice with the wrong company account. He paid it with company "A's" account when it should have been "B's" account. Both Companies are on Accounts Hosted. Can I just transfer the payment across to company B? If so how do I go about doing it? Thank you 

Zappy

Why havent you set the other company up as a supplier and paid it?

Jenni_9781955

Because the boss doesn't want it set up like that.

Zappy

Does the Boss have any other ideas?

Jenni_9781955

Really, do you have to be like this? I want help not to be left feeling like I'm stupid. I am new to reckon and am still trying to find my way around the program. I've had no training, just been thrown in the deep end and told to swim. I'm doing the best I can. Sorry I don't know as much as you!

Jenni_9781955

Is there anyone else on here that can try and help me and not belittle me? Thank you

Charley

Jenni at the end of the day Company B should physically pay back/reimburse Company A for the expense.


Then in Company A there is then an outgoing journal for the full amount (with no GST) into say Sundry Expense, then when Company B pays Company A back the incoming journal also goes to Sundry Expense and then it's all zeroed out.


Company B then records the payment to Company A as a payment to the Supplier with the normal GST etc


Effectively you have 2 separate entities whose accounts should be kept separate so I find this the most accurate way of doing things.


Don't worry too much about Kevin, he can be a grumpy old curmudgeon sometimes but he does know what he's talking about most of the time.

Jenni_9781955

Thank you very much Charles appreciate the help. I understand what you are saying. I can manage from here now. Again, thanks. I hope Kevin has a better day tomorrow. 

Zappy

Happy NY to you too Charles. Jenni I wouldnt waste your hope.

Zappy

Jenni your "Boss" is the person you should be taking a shot at, not me. He is being unreasonable and unprofessional. You shouldnt be put in this situation.