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Status Answered
Created by AgExpert Support
Created on Feb 2, 2014

Disqus Agexpert Accounting Questions Archive

how do I record a transaction that was paid partially by cash and partially from a bank account?

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi laurel!

    The answer to this question really depends on whether you run a personal farm or a corporate farm, though both answers are really very similar.

    In your transaction screen, you are going to do a withdrawal. Enter your date, reference, and description. The total will be the amount that was withdrawn from your bank account.

    There will be 2 lines for this transaction. On the first line, claim the full amount of your expense, regardless as to how much was paid from the bank account. I.E. If you withdrew $100, but the cost was $150, make sure the expense line is for $150.

    Create the next line. Here is where the difference between personal and corporate comes into play. If you are a PERSONAL farm, change your type to PA and use the personal advances account to balance the difference paid by cash. If you are a CORPORATE farm, change your type to L+ and select use your shareholder's loan acccount to balance the difference paid by cash.

    This should generate a balanced transaction that you can record.

    Let me know if you have any other questions!

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