Hi, I'm using Express Accounts 4.02 for Mac and found that when using the option Payments/Purchases - by default the transaction is recorded as PAYMENT. I then need to go to the Journal entries - edit that translation and change it to Purchases.
Example here would be Mobile Phone bill OR domain name Purchase.
What am I doing wrong? What is the underlying difference between Payment and Purchase in this case.
PS. Please don't confuse the Payment here with receiving a payment from a Customer.
Any help appreciated,
Peter