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Bingo Club Accounts - Payouts - Sales payment or purchase?

  • Member
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  • # 122674

I've been a Bookkeeper for 25 years and a SAGE specialist.  However, I recently set up a Bingo Club and I'm not sure whether the payouts should be entered as a Sales Payment, debiting a Sales nominal or a Purchase, debting a Purchase nominal? I think they should be a sales payment but thought I'd ask what people thing here. Thanks

Edited at 03 Jan 2024 10:38 AM GMT

  • Fellow PM.Dip
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  • # 122676

Presumably you'll be preparing Receipts and Payments accounts, so I would say it's an expense rather than negative income.

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