Contents
- Index
- Previous
- Next
Uncommon Transactions
Although the eTEK™ Accounting system can handle almost any business transaction that may occur in the course of day-to-day business, there are uncommon transactions that will also occur.
Listed in this chapter are some of these transactions and suggestions as to how they may be handled by the system.
However, we strongly recommend that you consult with your accountant or CPA for the preferred method of handling these transactions or other transactions that may occur. Some transactions may have potential tax and/or legal ramifications that should be discussed with your advisors.
Property Taxes
Liability Insurance
Workers Compensation
Unemployment Taxes
Prepaid Expenses
Deposits
Bank Charges
Interest Income
Purchasing Assets
Line Of Credit
Fund Transfers In
Fund Transfers Out
Billing in Advance (Deferred Sales)
Billing Errors in A/R
Applying Credits in A/R
Negotiated Settlements In A/R
A/R Debits when the customer goes out of business
A/R Credits when the customer goes out of business
Applying Credits in A/P
Negotiated Settlements In A/P
A/P debits when the supplier goes out of business
A/P credits when the supplier goes out of business