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Banking > Spending money
In AccountEdge software, the term spending money refers specifically to recording payments for transactions for which purchases have not been created. These include equity drawings, bank charges, telephone bills and so on. These types of payment can be entered using the Spend Money window or by selecting the Spend Money transaction type in the Bank Register window.
The Spend Money window lets you record more details about the payment and allocate the payment to more than one account. This is the procedure covered in this section. If you want to use the Bank Register window—which lets you record a payment with minimum details—see Entering transactions in the Bank Register window.
If you want to make a payment to a supplier for a purchase entered using the Purchases command centre, use the Pay Bills window or select the Pay Bill transaction type in the Bank Register window. For more information, see Paying bills.
To record money you spend
1
Go to the Banking command centre and click Spend Money. The Spend Money window appears.
Don’t select or deselect the Tax Inclusive option after you enter an amount in the Amount field.
If you are paying electronically, enter your own unique reference in the Statement Text field or accept the default. The text entered in this field will appear on the payee’s bank statement.
7
If your payment covers more than one account, repeat step 6. You would do this, for example, when paying for a purchase with a number of different types of purchases on it: postage, magazines, stationary, etc.
If you want to store the payment as a recurring transaction click Save as Recurring. In the Edit Recurring Schedule window, enter the necessary information and click Save. For more information, see ‘Recurring transactions’.
12
If you want to preview the remittance advice or cheque for this transaction, click Print and then choose Preview Cheque or Preview Remittance Advice. Note that the transaction is recorded before it is displayed.
13
If you want to print a cheque or remittance advice now, click Print and select the form type you want to print. Note that the payment is recorded before it is printed.
14
Click Record.
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