This isn't too far off. Please see my comments below.
Caffeinate The World wrote:
> I just set up SQL-Ledger-1.8.0. Trying to learn how to use it. I wanted
> to add this transaction, but I'm not sure if I'm doing it correctly.
>
> We needed a SSL Certificate (which will be renewed yearly). My partner
> went online to Thawte and paid $125 for one with her visa. They gave
> her an invoice after charging her VISA. My company will have to
> reimburst my partner for the $125 later.
>
> In SQL-Ledger, I did the following:
>
> 1. added Thawte as a vendor.
> 2. AP/Add Transaction:
> Record In: 2100-Accounts Payable
> Vendor: Thawte-10075
> Invoice Number: SSL2001
> Order Number: *** LEFT BLANK CAUSE NO PO ***
> ...
> Amount Total: 125 => 5795-Registration
The vendor actually should be your partner. You don't owe Thawte anything
currently.
This creates the following transaction:
Debit Registration expense -- 125.00
Credit Accts. Payable (to your partner)-- 125.00
> ...Amount: 125 ...Account: 2680-Loan From Shareholder
> ...Source: PartnerName
Leave this blank until you pay your partner. Pull up the invoice later when
you pay the partner and record the $125.00 payment from cash. That creates
the following:
Debit Accts. Payable (to your partner)-- 125.00
Credit Cash -- 125.00
Now everything is recorded and the invoice is closed or settled.
>
> My question for that transaction is, were those the right steps? Should
> I have created a PO first via Order Entry/Add Purchase Order? If I
> created a PO, it would have asked me to add in the
> Inventory/Parts/Services, which isn't an inventory, but an expense. We
> aren't going to resell the SSL Certificate, it's for the webserver to
> use.
You wouldn't want to use a PO.
>
>
> My next questions is when the company pays my partner back, for her
> $125, how should that be entered? I would think via the General
> Ledger/Add Transaction. Credit 125 1061-Checking, Debit 125 2680-Loans
> from Shareholders. It wouldn't make sense to do AP/Add Transaction
> cause she's not really a vendor.
See above. Go back and apply the payment to close out the invoice when you
pay your partner. You actually could have done the whole transaction thru
G/L Add trans. also without creating an invoice. You could have just made
the two journal entries above at the appropriate times.
>
>
> Is my thinking right? BTW, how is "Source" used in the GL/Add Transaction?
Not sure here if that's for comments, or a user name or something. You don't
need to use it.
>
>
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