Record money in, money out and transfers
Every amount that comes in, goes out or moves between accounts is recorded with its journal.
Before you start
- An active cash or bank account.
- Cash & Bank write access.
Steps
Step 1: Open the Transactions tab
In Cash & Bank, open the account, choose the Transactions tab, then click New transaction.
Screenshot coming soon
The Transactions tab of a bank account with the Received, Spent and Balance columns and the New transaction button.
Step 2: Choose the direction and fill in the lines
Fill in the Date, choose the Direction Money in or Money out, and fill in Reference and Description. Under Line items, choose the COA account and Amount, then click Save transaction.
Screenshot coming soon
The new transaction form with Direction, Reference and the COA account and Amount lines.
Step 3: For a transfer, choose Internal transfer
Choose the Direction Internal transfer, then Send from this account and the Destination account, fill in the amount and click Save transfer.
Screenshot coming soon
The internal transfer form with the source account, destination account and amount.
When you are done
- The account balance and the running balance in the Transactions tab update straight away.
- Every transaction posts a journal, visible in its detail.
- An internal transfer updates both accounts together.
Common problems
Where do I record a bill payment or invoice receipt?
Record it from the bill or invoice, or through the Payment Schedule, so its status changes too. Transactions here are for money not tied to a document, such as bank charges or capital injections.
The transfer destination does not appear
Transfers only work between active accounts in the same currency.
Something still unclear?
Ask us on WhatsApp. The Finday team replies during office hours and can walk you through it in your own account.