explanation on the need/use of "item"for transaction

davidsmith

I'm a new user of Hosted currently trialing, currently use Home and Business 2015.

My business runs under License and receives cash for sales and commissions, this amount is deposited daily and does not require individual sales to be accounted for. In H&B I record as 1 deposit entry (sales and commisions) with 3 account line items GST sales, GST free sales & commission. At months end the Licensor provides a break down of categories of commissions, To account for this I transfer monies from the commission total and allocate over about 20 different income accounts

Apart from a few minor income items total deposit transactions amount to around 25 transactions, very few!

With double entry requirements in Hosted I am unsure of the most simple entry method. I am uncertain about use of transaction rules and (service) items as there does not seem to be a method of entering deposits directly to the income accounts.

Can someone advise me on solutions (I have been through the help videos and it isn't helping) and also as I am waiting on bank approval for online bank feeds will your solution work for both feeds and manual imput.

Thank you

David

davidsmith

thanks for quick response, what time do you start work,