to have a 'Bank' field made available in manual journal....!
I am looking at entering transactions of 2013. (So i have no intention in creating invoices for the sales happened that time, rather just enter the sales amount)
When there is a SALE in showroom through credit card, the money go to the credit card company and after deducting their charges they will credit our bank with the balance amount.
For eg: if the sale is 1000, they will credit our bank with 977, meaning their charges is 23.
The entry would be:
Dr. Bank 977
Dr. Credit Card company 23
Cr. Sales 1000
I would like to make this transaction possible in 'manual journal' where it is not possible at the moment, as 'Bank' field is not available . ( or please suggest me a better way of doing it )
If I only enter 977 in 'Bank's receive money', then I cannot show the charges separately on my P&L.
Please advise me on this
Thank you.
Hi Syamjith,
We don’t plan to allow Manual Journals to affect the AP,AR or bank balances. These balances are designed to only be affected by invoices/bills, spend/receive money transactions, and bank transactions in Xero. If you need to journal to a bank account there are some alternative methods available here: https://help.xero.com/int/Q_JournalBankAcc