How to make a complete transaction when director withdraw the money from bank

[Joey]

Hi All!

               Anyone can help me to solve my problem? May I know how can I make a complete transaction when director withdraw the money from bank. I have create a Director Account under Liabilities and the Cash & Bank Account under Assets. So, anyone can let me know what is the correct way i must do to complete the transaction? Your help will be appreciated. Thanks a lot!

[Brucanna]

Go to Cash Accounts - Spend Money and make the Account = Directors Loan.

The Bank Account must be created under Cash Accounts tab, don’t create it as a Chart Of Account - Asset Account. To activate the Cash Accounts tab go to Customise under Setting and tick the box besides Cash Accounts, and then scroll down and click Update. Read below.

Set up a cash account

Cash accounts are created to record money received or spent from accounts held with financial institutions, including current/checking accounts, savings accounts and credit facilities. Cash accounts can also be used for petty cash imprest accounts and cash floats. Before you create the first cash account, you need to enable the Cash Accounts tab. To do that, click Customize under the list of tabs. [image] Select Cash Accounts option. [image] And click Update button at the bottom to confirm…