Question asked by Dale Sullivan 10 years ago
hi i am wanting to explain my transactions that have been imported but not sure if i am doing it right.
i have added payments coming in with 'Transfer' tab.
but what tab do i use for payments going out?
the only tab that seems like it has got the right drop down information is 'Refund'. but they aren't refunds.
thanks
dale
Hi Dale
As and when the import is checked the general bookkeeping rules for transactions (not transfers) are as follows:
Money leaving your bank account is to pay for a cost/expense or to pay off something you owe (like a supplier bill or VAT liability) and Money coming into the bank account is income (eg sales) or someone paying off a debt they owe you (eg if you have sent them a sales invoice)
For an onscreen list of what tends to be out & in, go to Settings>Codes and you'll see the former ticked as "Show in purchases" & the latter "Show in sales"
Cheers
Best answerHi Dale,
Have you sent the CSV file to us at contact support?
hi don't worry about explaining, i think there is an issue with the imported csv file. it is being looked at. thanks.
hi, sorry i am not sure what an account code is or what to do.. if you could explain the steps that would be helpful.
So to 'explain' a regular transaction coming out of my bank (i.e a monthly payment/bill)... i will use what drop down options in 'Transaction'? Revenue, Other income, Interest income, Other debtors , loans, VAT payable, share capital.
Is it 'Other income'?
Hello Dale,
Any revenue amounts will be taken from Income. IF they are transfers, you will not need to use an account code.
For the outgoings, if the bank import has a payment (ie a negative amount on your bank account), the cost account codes will show up.
Vanish.
so to explain a Transaction that is a standing order that comes out of my bank. Is it.... Transaction - Revenue?
there doesn't seem to be many options in the drop down in 'Transaction'.
they all seem to be incomes.. not outgoings..
Hello Dale,
You use the Transaction option to explain the money coming in or out. Using a transfer is okay so long as it is a real transfer between real bank accounts eg current account to savings.
You will need to use Transaction if this is a sale and it money from services or goods sold to a customer.
Vanish
You must 