BookKeepingSearches

From PCSAR

Booking the transactions for a search is a little complicated.

Make sure there is an account under Receivable for the Tasking Agency. There typically are accounts set up already for each Tasking Agency unless we've never dealt with them before.

Create a new account under Payable for the incident. Book each payable item (e.g. member's expenses) against the Receivable Tasking Agency account, or if we're absorbing the cost ourselves, against the Search Expenses account. Instead of entering separate transactions for each item you could enter just one split for the whole invoice.

Invoice the Tasking Agency.

When the payment is received, book the deposit against the Receivable : Tasking Agency account. This should bring the balance of the account to zero.

Make our outstanding payments (e.g. to our members). Write the cheques and book them against the incident's Payable account. This should bring the balance of the payable account to zero as well.