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Thread: processing auction deposits into pastel cashbook

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    Smile processing auction deposits into pastel cashbook

    Hi everyone,



    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.

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    would anyone know a good suggestion?Please


    Quote Originally Posted by PASTEL01 View Post
    Hi everyone,



    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.

  3. #3
    Moderator IanF's Avatar
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    Open a current asset account called auction deposits just keep it reconciled.
    Only stress when you can change the outcome!

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    PASTEL01 (31-Jul-13), Vanash Naick (31-Jul-13)

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    thank you...would I be able to match the payment to a supplier invoice using this account?

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    Moderator IanF's Avatar
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    Shoo I don't know the workings of matching in Pastel the other guys will chime in as they are the experts.
    Only stress when you can change the outcome!

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    PASTEL01 (01-Aug-13)

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by PASTEL01 View Post
    thank you...would I be able to match the payment to a supplier invoice using this account?
    Not a Pastel user myself, but at worst you could process it through a contra (banking) account.
    The trouble with opportunity is it normally comes dressed up as work.

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