What is the entity box for in Money Out?

Question asked by Tracie Powers 8 years ago

When entering cash transactions manually one by one, a pop up appears with boxes to fill in details, the first box is labelled "entity" and gives me a choice of the different bank accounts I have set up ie Bank account 1, petty cash, non-deposited funds. The second box is labelled "bank entity and gives me the same choices in the drop down box. What am I missing? The first box "entity" surely is not just a repetition of the second box so have I missed adding something when setting up the account

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Hi Tracie,

The entity box at the top is who the money is going to - these will, therefore, list all your suppliers(you can add more on the Contacts>Suppliers menu) . All bank accounts generate their own enity which is listed as both a customer and supplier and can be used when explaining interest/bank charges. This is why you see the banks in the entity field.

The bank account field on the form is used to explain which bank the money is coming out of.

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8 years ago

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