PeterW59

Can anyone advise how to record unallocated funds as a liability. I have customer/members who often make advance contributions by paying up front and building up a sum of funds of a period of time. These funds are not my Clubs funds and should be recorded as a liability. There is no invoice(s) in existence for these to payments to be applied to. These payments all currently go to accounts payable. How would I go about changing this or isn't EA capable of doing this? I can't issue a credit note for an item that does not exist yet.

Couldn't you just enter onto the invoice your item by its item number which will display the description & price. Double click on the text in the description and this will allow you add free text eg your date. So you could then have multiple items of the same item number and cost but with dates alongside them. Hope that helps

Help needed, please. I am a small sporting group organiser. I am trying to work out the following scenario for entry. The Club uses a facility for sports practice and our individual members may also book/use the facility for their personal use. The facility manager requires that it be done through us and that we collect the hire fees and pay by bank transfer to them. So, all is going through our books as well as theirs. I need to be able to record the debt to the facility, as well as the payment to us by the user to pay to the facility and the payment to the facility. I have created an item for "Individual Facility Hire" to distinguish this apart from our Club use (if I need to use that for invoicing). I have categories in my chart of accounts for "Facility Hire by Individuals" under Income and another under Liabilities. Should that be under expenses? How do I go about recording the process? This is what I thought, I am assuming I must first create an account payable by the Club to the supplier (the Facility). When the individual hirer pays to our account I record their payment but don't allocate it as their is no invoice from us. How do I link their payment to the purchase from the supplier? Obviously the unallocated payment needs to be applied to something (being an invoice from us) Is it simply a matter of us creating an invoice for the hire and recording that payment from the user, then paying the facility and recording that expense. Thanks.

I have been using this software since the start of 2017 for a small sporting club. I am having difficulty with the reporting and the chart of accounts. When I produce an income statement report for a period, I am getting a total of invoices produced and I was believing that I should be getting a total of the payments received for that category of invoices (if that makes sense. To clarify, I have a category of uniforms. I have for example created 100 x $10.00 invoices ($1000.00) and have received payments this month for $80.00 so far. My income statement report shows $1000 of income for uniforms. I would have expected it to show $80 of income for the reporting period. I know the software can do this as I have other categories that show running totals. I obviously have an error im my chart of accounts or in the items. I have tried to check the uniform category against the others that work but cannot get it to work. What am I doing wrong or what do you suggest? Any help from someone who knows what they are doing would be appreciated. Thanks