Fastcoding for private expenses/mortgage payments/misc. private income etc.

bmistry
bmistry Member Posts: 62 Reckoner Reckoner
edited May 2024 in Accounts Hosted

I have created shareholders bank account for taking care of cash and credit card purchases such as for stationery, drinks, meals etc.

How do I account for private purchases for say groceries, clothing

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s etc, - not related to business and match entries from fast coding so that private expense/income do not show up in business transaction except business expenses.

Answers

  • Charley
    Charley Member Posts: 498 Reckon Star Reckon Star

    Use Classes; Business for Business and and Shareholders by name or what everyou want to call them; but I would do each Share holder by name so that you can report on how much each shareholder has drawn down

  • bmistry
    bmistry Member Posts: 62 Reckoner Reckoner

    I do not have classes in my Accounts Hosted.

    So I do not have that class window.

  • Kris_Williams
    Kris_Williams Member Posts: 4,222 Reckon Hall of Famer Reckon Hall of Famer

    you have to go to Edit, Preferences and turn classes on, I think in General

  • Charley
    Charley Member Posts: 498 Reckon Star Reckon Star

    You should have it; Accounts Hosted has it; You just have to tick the box at >Edit>Preferences>Accounting>Company Preferences>Tick the Box "Use Class Tracking"

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