the company I work for buys and sells vehicles (mostly trucks), they occasionally attend auctions which requires them to make an auction deposit before going. if they buy a vehicle the deposit sometimes goes towards the payment of the vehicle and if they don't ,the money is deposited bank into our bank account.
which GL account should I use to allocate our payments to when processing on my pastel cashbook(payments)?
and which GL account should I use when processing the payment of our deposits from the auctioneers if the return the payment by depositing it back into our bank account?
I am new at using pastel ,please try and assist me .
im using PASTEL XPRESS 2009.