DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Payment to supplier from personal account


#1

In the event that my supplier doesn’t have a foreign currency account we have had to transfer our personal funds to pay for some goods.

I am wondering how do I transfer the fund across to a personal account that will in turn pay for the sales invoice in manager?

Where would you suggest I create a personal account in manager - this is a one off payment as the supplier will have his bank account issue sorted in a few weeks.


#2

I strongly recommend you never try to mix personal finances into your company accounts. I’m sure your accountant would agree.

The perfect way to handle things when you pay a company expense from personal funds is via Expense Claims. You can then reimburse yourself from the company bank account and all will be good. Or you can just treat the personal expenditure as an additional contribution of capital if you are an owner or partner.

It is an unnecessary complication to transfer personal funds in and turn right around and spend them. But if you’ve already done that, treat the transfer in a contribution of capital.


#3

@Tut how I agree with you! But someone else doesn’t agree with the both of us…

Can you explain the process above in detail so I get it right on Manager? Exactly how would I do this in detail please.


#4

Use Expense claims tab. It is a module designed for this use case.

See: http://guides.manager.io/9940-Expense-Claims


#5

thanks @lubos works like a charm