Add/Edit Transaction

Transactions are sometimes added automatically by the system, a typical example being when creating an invoice payment. However mostly you will want to enter a transaction such as the purchase of petrol, the payment of a bill etc.

The first thing is to select the account that will hold this transaction followed by the date. The time is entered for you but not necessary.

You now have a choice of client, supplier or other. Client provides a list of clients, supplier a list of suppliers and other allows free form entry.

If this is a Personal Drawing then check the relevant box to indicate that this is a non-business transaction. Note these transactions are NOT included in the Profit & Loss report as they are deemed to have been funded by your own personal money.

Now enter a description of the transaction i.e. Payment of supplier bill for shoes and select the required radio button to indicate the type of transaction. Depending on whether the transaction is an Income or Expense a list of relevant categories is shown in the drop down box.

All that is left now is to enter the net value of the transaction and any tax code applicable. The tax amount and gross values are calculated. Select a payment method from the drop down box noting that if cheque is selected, you will be prompted to enter a cheque number. You may add any notes for future reference.