How to show cash purchases in sage for a sole trader?

Simon

Good morning from a very new newbie. I love the forum and the interesting subjects that come up. Its so different from social security benefits!

Anyway....
A quick question which should be simple for the right person please, How on earth do I input a cash payment on sage 50 for items such as stationary, security equipment and the like?

I thought it should be a straight bank payment however, the cash did not come from the bank but the traders personal pocket.

I am sure its simple, it cant be hard, can it?

Thanking you in advance.

Si...

ademoore

Dr Expense, Cr Drawings

Rozzi Rainbow

Or, if you are not happy with posting it as a journal and want to use the Bank module:

Post as a bank payment from the "Petty Cash" account.
Post a bank receipt to the Petty Cash account and Capital Introduced.

Monsoon

Or set up a new 'bank account' on Sage called Personal Bank and pay it from there.

imeldabye

guess also it depends on how you are going to use this expense in the accounts- ie do you want to show it in the Balance SHeet or is it just a question of keeping tabs on what the personal expenditure is? If just a simple Profit and Loss then not really so important where you CR

Simon

Thanks all for the replies.

The cash payments are cash introduced to the business so I have started using journal entries DR expense NC 7502 as most is stationary and CR capital introduced nc 3010.
I think that should cover it.

Advised that a bank account should be opened!

Si...