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Status Answered
Created by AgExpert Support
Created on Jan 24, 2014

Disqus Agexpert Accounting Questions Archive

I made a mistake in my recording, we are a corporation and I added my Jan expenses under the example on pg 62 (recording the purchase of goods on account-expenses) and I need to change it so it comes off as true expense and shows a withdrawal on our bank account as well. How to I go about making this change?

  • ADMIN RESPONSE
    Feb 10, 2025

    Hello, All you would need to do is apply a payment to the payable charges that you created. Just do a Withdrawal for the amount and choose Payable Payment. this will remove it from your payables and affect your Bank and the expenses. Right now if you run an Accrual Income and Expense those expense would show up. But since you probably generated it on a cash basis it would not show. I hope this helps.

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