Debit against sales

zkaufmanzkaufman Member Posts: 6

Hello

How can I debit a cash withdrawal against income? Essentially, some of cash I deposit isn't sales. I own a laundromat and customers use my quarter changer machines. Sometimes they take those quarters home. I take the cash from those changers and deposit the cash. However, I need to buy quarters to replenish the machines.

I do not want to overstate my sales numbers. How would I enter the bank withdrawal of quarters in Waze?

Comments

  • JamieDJamieD Administrator Posts: 448 admin

    @zkaufman In this case, all you would need to do is create an expense transaction for the purchasing of the quarters. Make sure that you have the chart of account category listed as 'operating expense' or another category if you would prefer to keep the purchases for your quarters separate. This will accurately reflect what's going on in the real world and keep your accounting up-to-date.

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