Borrowed Money

SOLVED

Im new to this and need a little advice.  I recently purchased sage 50 using a family members credit card, and repaid him with a company check.  How do i enter that in sage??   Company is a private corporation. 


Thank you for any help.

Jeff

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  • 0 in reply to Jthur

    I am curious RandyW - if you use 'one time customer' does it show up anywhere? Scenario would be 2 years down the road. a new person entering information and needs to look up how Sage 50 was paid. Would the one-time customer show up as having made that payment or giving a loan? I have not used it as heard that there is no way to look that up other than to somehow track down the JE itself.

  • 0 in reply to Smith and Co

    Heather, you are right 'one time customers or 'one time vendors' are very hard to trace. Next to impossible unless the dollar value is unusual for the business. I had a client one time who had been advised to use one time for all customers and vendors because they were operating on a cash business. The person who provided the advice refused to help them a year later in trying to trace a number of entries. I got the call and spent an enormous amount of time trace all of their entries to identify them properly. Now they can draw customer and vendor reports and they are still on a cash basis.

    I do not like using 'one time customers/vendors'.

  • 0 in reply to Alwyn

    One-Time Customers/Vendors can be searched in the invoice lookup separately from others if you set the search option for them instead of All Customers or a specific customer.  If you put the person/company's name in the shipping address fields, then the specific invoice can be searched easily in the Quick Search option on the Home Screen.

    I personally never use it nor do I teach my clients to use it.  I prefer to have the user enter the real name and if it is paid at the time and credit is not given, then select Continue, not Quick or Full Add when prompted.  This allows the name to show as part of the journal entries and be searched in those reports as well as in the Quick Search.

  • 0 in reply to Richard S. Ridings

    Thanks - sometimes I wonder about the 'new' 'improved' 'enhanced' features. I think some of these features may work well for those who are very versed in what they are doing per Richard but can create quite a mess for those who think they know what they are doing as evidenced by Alwyn

    I'm staying away from this particular one.