The rest of the accounts are not visible. I created a account in direct expenses to use it as to account…. How to do it?
I am also learning the software. Please take my advice with a grain of salt.
My memory suggests that payment entries are designed to be a sort of specialized shorthand journal entry (with some minor additional functionality). They are made to work hand-in-hand with the invoice systems (Buying/Selling modules).
I believe the documentation describes this very briefly under Journal Entry.
To pay expenses directly to an expense account (or asset account if capitalizing), a journal entry must be used.
A payment entry or journal entry can be used to “pay” the invoice in the typical accrual workflow for purchasing:
-
BOOK THE INVOICE
a. CREDIT Creditors (Accounts Payables) ++
b. DEBIT (Expense or Asset account) ++ -
BOOK THE PAYMENT OF THE INVOICE
a. CREDIT Bank/Cash Account —
b. DEBIT Creditors (Accounts Payable) —
To directly pay an expense without an invoice, a journal entry should be used:
- Directly pay expense from bank account or cash:
a. CREDIT Bank/Cash Account —
B. DEBIT Expense/Asset Account (increase) ++
Thank you!