Navigation:  Cash Accounts >

Spending money

Previous pageReturn to chapter overviewNext page

Money withdrawn from your bank account should be recorded under Statement balance column.

 

clip0020

 

When you click on the amount under Statement balance column, you can click Spend money button to record new transaction.

 

clip0021

 

Every recorded transaction must be properly categorized. For example, if you have spent 200 for telephone, you would record it like this:

 

clip0022

 

You can also split the amount across multiple expense categories. This is useful if spent money represents paying off credit card.

 

clip0023

 

You are not restricted to use only simple expense accounts to categorize your bank payments. If money has been withdrawn by business owner set up under Capital Accounts tab, you can select their account too.

 

clip0024

 

If money has been paid to supplier set up under Suppliers tab, select Supplier credits account. This will allocate the money spent automatically against their outstanding purchase invoices.

 

clip0025

 

Or allocate spent money against specific purchase invoice.

 

clip0026

 

As you can see, it's all about specifying the correct account or accounts to categorize all money spent.