Transactions

Transactions are the money records of bookkeeping. They are no more complicated than timekeeping records and much easier than accounting that you may be familiar with. Transactions have two basic types - income and expenses.  

​This article explains how to enter your money transactions.
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Most transactions are entered on the Expenses page of the app. However, there are two special cases, Mileage and Reimbursable Expenses, which are entered on the "My Records > More…forms, etc." page.  You can choose whether to allow this recording of reimbursable expense on an individual by individual basis. So when the expense is incurred by an individual rather than through the typical bookkeeping process, the individual can enter the transaction directly. 

The two basic types of transactions, Income and Expenses, have a further subtype for Expenses - Reimbursable Expenses. That makes three transactions that you enter from the Expenses page. The Reimbursable Expenses that are entered on the Expenses page are those that are incurred by the organization rather than the individual.

These three types of transaction have buttons that open a form on the top-left of the Expenses page.

These are the pieces of information that each Income Transaction can record. See a description of each below. 

Income Transactions that have been entered using this form, but which have not been paid, can be found in the 'Receivables' table. You can find the 'Receivables’ among the buttons at the top-right of the Expenses page.

The Income Form Information

• Date - the default date is today. Click the date and a calendar will let you choose a different date.
• Project - select the Project for which the income was earned.
• Client Name - select the Client; the Client’s name is established when the project is created so it should appear in your list of Clients.
• Income Amount - enter the amount without using a dollar sign.
• Inv. ID - optionally, enter an identifier. This is used to group income and reimbursable expenses. This can be done later in the Receivables table.
• Description - describe the income so that you will recall the circumstances.
• Category - select the category for this income. Usually “$Income”, a pre-populated category.
• Invoiced? - select “yes” or “No”. This helps you track the status.
• Paid? - select "Yes" or "No". A "No" shows up in the Receivables table.
• Due Date - if you include a due date, the Receivables table will show ‘aging’.
• ​File - upload a file to provide more details (perhaps a scan of the invoice).

These are the pieces of information that each Expense Transaction collects. See a description of each below. 

If the Contact is not found in the pull-down list, use the 'Add a new option' button to add a Contact on the fly.

An Expense Transaction can have two steps, or you may choose to skip the first step and just enter an expense when it is paid. The first potential step is to enter the amount of a bill when you receive it, but before it has been paid. The second step is to return to the transaction and mark it "Paid? = Yes" when the bill is paid. 

Expense Transactions that have been entered using this form, but which have not been paid, can be found in the 'Payables' table. You can find the 'Payables’ button on the top-right of the Expenses page. By entering an Expense Transaction when the expense is incurred rather than when paid allows you to see how much money you owe to others. Another advantage to entering the expense when incurred (receive a bill) is that you can file a scan of the bill in the app and eliminate the need for a "To Be Paid" file.

The Expense Form Information

• Date - the default date is today. Click the date and a calendar will let you choose a different date.
• Project - select the Project for which the expense was incurred. In the event that the expense is not related to a design project (say, the rent), you should select “Internal”, a Project pre-populated by the app. 
• Contact Who Is Being Paid - for expenses this is the vendor. If the vendor does not appear yet in your list of Contacts, then you can add the vendor's name using the link which will return you here when submitted.
• Expense Amount - enter the amount without using a dollar sign or a minus sign.
• Description - describe the expense so that you will recall the circumstances. 
• Category - select the category for this expense.
• Due Date - record a due date if desired.
• Paid? - select "Yes" or "No". A "No" shows up in the Payables table.
• ​File - upload a file to provide more details (perhaps a copy of the bill).

The Reimbursable Expense form that you use when the organization is incurring an expense that will be reimbursable, say a consultant or reprographics cost, is similar to the Expense form. The category is added automatically as “Reimbursable Expense”.

A Reimbursable Expense is a special case of an Expense Transaction because it also has an Income Transaction connected to it. By using this form two transactions are created with the same information. If you don't use this form, then you must remember to create the second transaction (not recommended).

The expense portion of the Reimbursable Expense Transaction appears in the Payables table. The income portion of the Reimbursable Expense Transaction appears in the Receivables table.

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