Collection Agency Bookkeeping Entries Question
(Utica, NY )
Our office uses "The Therapist" software by Beaver Creek for our accounting. When we receive a payment from the collection agency, it is entered into our accounts receivable.
My question is, how do we enter the payment on the patient's account? It seems to me it should also be reflected on the individual patient's account, or isn't that necessary?
Entering a Shareholder Expense Report.
(Calgary, Alberta, Canada)
Shareholder Expense Report
I am getting very flustered because I am over thinking this. If you could help me I would appreciate it very much.
My boss (shareholder) recently started a company and has to submit his expense report in order to be reimbursed from the company. Now the three accounts I think I will be using are
1) Expense account
2) Loan from Shareholder (Liability)
3) GST Paid on purchase
(If I need an extra account please advise)
so I am confused which account would be a debit and which would be a credit. Also for his expense report which he has submitted would I even enter GST Paid on purchases or leave it off?
I thought it should be:
1) Expense -Debit
2) Loan from Shareholder-Credit
3) GST Paid - Debit
I hope you can help me as soon as possible thank you.
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