Expenses versus manual bank entries

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Forgot to mention: I use a bank account just for my business with no cross-over between any personal accounts, and all costs have come out of this account.
Thanks

Hi there

Anything the business pays for directly and immediately, such as with a business debit card or a bank transfer, would be explained as a bank transaction like this http://www.freeagent.com/support/kb/b...

This applies no matter what that cost may be - whether it's cost of sales, travel, stationery, etc.

The My Money > Expenses area is only for a cost that you pay for yourself from personal funds and the business then reimburses you for.

So in the case of the web server cost, it depends how you pay for it. If it is paid through your business account, it's a bank transaction. If you pay for it using a personal card, it's My Money > Expenses for that one.

Here's more about entering expenses http://www.freeagent.com/support/kb/e...

What you'll need to do is delete the expenses and these would only be explained when the payments are made from your business account.

Does that help?

Regards

Janice

Hi Janice, that makes sense, and helps me a great deal. I'll go through my entries to see if I need to change them.

Thanks for taking the time to reply,
Kind regards,

Chris