• Registered: 05/13/2011
  • Posts: 10

Topic: How to Purchase...the right way :)

First, disclosure.  I am a newbie and a techie... I have read all the forum entries and docs...but  perhaps i am dumb when it comes to accounting.   I wanted to be online so i am looking at this software...and trying to figure out how it works. smile    I am running 2.3.4 release

The best way for me to explain my confusion about how to do things right is with a scenario:

(1) Cash Purchase scenario:   Jack went to Walmart and bought a box of paper for 10.99 with a check from the Operating Bank Account.     

Result I want:   Take money out of the Asset (bank account) and  create an offset in Expense (Office Supplies) .   I would also like to be able to see how much the company spends at Walmart.

Options: 
I tried setting up a supplier and going that route...but seems onerous when it is a small purchase...  I could get the liability but never seemed to do what was required to get liability relieved and expensed.

I tried the Direct Purchase Invoice Entry... but it required items.... i don't want to set up items for every little thing i purchase...still could not get it relieved and expensed.

So i looked at the Banking and the only thing that looked like it would get it done was to make offsetting journal entries...but the only way i could tell Walmart was to put it in the memo section which does not let you really use the reporting power of this system.

Question:
Is there a

  • joe
  • Administrator
  • Offline
  • Registered: 03/15/2007
  • Posts: 5,107

Re: How to Purchase...the right way :)

Hey there, I think you missed the Quick Entries. Please read about them in the Wiki, https://frontaccounting.com/fawiki .

/Joe

  • Registered: 05/13/2011
  • Posts: 10

Re: How to Purchase...the right way :)

Yes.. i read that...seemed like what i wanted but it would not work.   Since i cant post a pic here...i will post pics to the error reporting site.     

The reason i could not get it to work...was i added a bunch of accounts to the chart of accounts...for example a bank account.    When i would try to use the quick entry...new accounts that i had set up would not show in the dropdowns  to make a cash payment....from a new bank account for instance.   I look at the coa edits to see if you had to enable for the quick entry feature...but could not find anything...that would be blocking it.

So i will post the problem to see if i have found a bug or so you can see what i am doing wrong.    I hope to be helpful with all my questions not a pain in the neck.

The mantis entry is 804