Hi @Rustler
It's been a while but I would like to revisit this thread is you dont mind as I'm having some issue reconciling.
So I have my client trust account for 'Jim'
As you rightly pointed out before when he deposits money with me I make it a 'Sales Receipt' and select to deposit the funds to 'Jim Account Receivable'. Under the service type which I have labelled as 'Jim Deposit' is linked to go to the 'Jim Account Liabilities'.
Therefore the Liability and the Receivable account will always balance.
My issue now is with when Jim takes goods for me.
Do I enter it as a Sale Receipt or an Expense?
Say for example the Goods value for 5 piece of Timber is $500.
1. I need to list the items sold
2. I need to select where the value of the goods are being deposited to
3. I need to also deduct the value from the liability account.
How can I do this so the Receivable and Liability balances and also account for the sale of goods?
Hope the above makes sense?
