Re: [SL] Same vendor and customer

[Stuart L. <s-l...@uc...>]

On =E6=9C=A8, 2007-07-26 at 18:51 -0700, Jeff Roberts wrote:
> Hi Stuart
>=20
> Why even set him up as a vendor if it's just a service fee once every=20
> payroll. Just create a "service fee" income account and tick the=20
> Expense/Asset button under Payables. That will make it appear in the=20
> drop down list when you are processing the employees paycheque. Then=20
> simply enter a negative amount on one line of the AP transaction when=20
> you make the guys paycheque and choose the "Service Fee" account. The=20
> transaction will still be posted against all the correct expense=20
> accounts but the service fee will then be left in the bank account
> and=20
> registered as income. Sort of as if he paid it out of his pocket.
> When=20
> you print the AP transaction it will show the Service fee as a
> deduction=20
> from his paycheque so there is no need for an extra invoice/receipt.

Yup, excellent idea. You can tell that I'm not an accountant since I
wouldn't think of making an income account an expense as well. Thanks
very much, Jeff.

--=20
Stuart Luppescu -=3D-=3D- slu <AT> ccsr <DOT> uchicago <DOT> edu
CCSR at U of C ,.;-*^*-;.,  ccsr.uchicago.edu
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Thank God I'm an atheist!