I have a client that has some transactions
for fence materials which their farm has currently paid for in full, however, is splitting the cost equally with his neighbour who is paying him back. How would I be able to go about entering these transactions to properly reflect this scenario?
Hi Stacy, You will need to enter two transactions. 1. Withdrawal, offset by expense for the full transaction amounts. 2. A Receivable Charge to record the amount being paid by the neighbor, offset by a negative amount (negative quantity too if tracking inventory) to the same expense account used in the first transaction.