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Spend Money

 

 

 

 

Steps on how to Spend Money

1.Go through Transactions > Banking > Bank Transactions;

2.Click Manage Account and select Spend Money;

3.Fill the information;

4.Save.

Fields explained in Spend Money

 

1.Pay From Account: Only Bank Account would be available for selection in this field and it’s mandatory with a warning reminder of “You must select a Pay From account”;

2.Pay To: This is where the money pays to, which could be Supplier, Customer or Employee. It is a mandatory field with remind “You must pick a Pay to for your spend money transaction!”

3.Memo: User may input your own Memo for reference. Current default is Transaction type plus unique system auto assigned reference number.

4.Ref. No.: This is unique number generated by Q6, which is a read only field.

5.Date: It’s today’s date by default. User may modify it manually if necessary.

6.Amounts include Tax: it’s un-ticked by default.

7.Account: Full Account List would be available for selection. As a mandatory field, the rest of table won’t be activated until one account has been selected.

8.Description: User may input any transaction description for reference if needed.

9.Tax: Once an account has been selected, the tax code saved previously while creating the account will be auto loaded. If not, user can select tax code accordingly from the drop-down list as stated in the table below.

          

Account Type

Tax code

1.Expense account type

2.Other expense account type

3.Cost of Sales

1.GST Free Capital G10.G14       0%     (Pay Tax)

2.GST Free Expenses G11.G14   0%     (Pay Tax)

3.GST On Expenses G11            10%    (Pay Tax)             (purchase)

4.GST On Capital G10                10%    (Pay Tax)             (purchase)

5.Input Taxed Purchase G13       0%     (Pay Tax)             (purchase)

1.Income Account Type

2.Other Income Account Type

1.GST Free Exports G2               0%       (Collect Tax)

2.GST Free Income G3               0%       (Collect Tax)

3.GST on Income G1                  10%     (Collect Tax)

4.Input Taxed sales G4              0%       (Collect Tax)

1.Asset Account type (Bank card, Current Asset, Non-Current Asset)

2.Liability Account Type (Current Liability, Non-Current Liability)

3.Equity Account Type

1.GST Free Capital G10.G14      0%       (Pay Tax)           (purchase)

2.GST Free Expenses G11.G14  0%       (Pay Tax)           (purchase)

3.GST On Expenses G11            10%     (Pay Tax)           (purchase)

4.GST On Capital G10                10%     (Pay Tax)           (purchase)

5.Input Taxed Purchase G13      0%       (Pay Tax)           (purchase)

6.GST Free Exports G2                0%      (Collect Tax)

7.GST Free Income G3                0%      (Collect Tax)

8.GST on Income G1                  10%     (Collect Tax)

9.Input Taxed sales G4               0%      (Collect Tax)

10.Amount: It must be positive number with maximum two decimal places in this field.

11.Sub Total: This is the total amount excluding tax.

12.Total Tax: This is the sum up for total tax.

13.Total: This is the total amount including tax.

14.Save: Once the transaction has been saved, it would be included in the Bank Transaction List. Account and Amount should not be left blank. Otherwise it won’t be saved with a reminder of “You must select account to spend to!”

15.Exit: This will lead back to Bank Transaction page after clicking Exit.

16.Uploading File: User can upload one related document to be attached to the invoice with no more than 2MB size. Formats such as PDF, TIF, JPG, JPEG, PNG, BMP, are accepted in Uploading Files. Once uploaded, user may download, pop up, enlarge, and unlink the uploaded document through the small buttons beside the file.

 

 

 

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