Explaining Purchase Transactions

Question asked by Tim De Glanville 10 years ago

I'm a property renovator and have purchased various items from a supplier. Those items should be accounted for in different accounts, i.e. Tools should be under 'Plant and Machinery' and nails and bolts should be under 'Materials'.

My problem is that the items are all on the same invoice and therefore under the same transaction from the imported bank statement!

How do I then plot these out to different accounts when 'Explaining' the 'Transaction'?

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2 Replies

Hi Tim

All you do is fill out the explain screen for each item, entering the appropriate sum in the amount box and hitting "add transaction" this will leave you the balance to explain.

So if you have a payment for £100 and it's £50 tools & £50 materials, just explain the tools first with a £50 in the amount box and hit add transaction box and an explain line will be created below with that £50 and you'll now have the other £50 to explain to materials. Hit the upper add transaction for that and you now have two lines to which the £100 has been allocated and hitting the lower add transaction explains it all.

Best answer
10 years ago

Thank you Paul, I did try that the day I posted as the system wouldn't let me change the amount box, but it worked perfectly this time; must have been the poor internet connection I had that day.

9 years ago

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