How do you classify a bank transaction that isn't considered an expense or income but involves the receipt of funds that represent an account payable from a client (or a bank withdrawal that constitutes an account receivable for a client)?
If you are referring to something like an invoice payment, I would log a payment to the open invoice. Then, you should be able to match the transaction to that invoice payment. If it is a vendor payment, you can do something similar by entering a bill and bill payment into the system and then you can match the transaction to the bill payment.
when the system has a rule for a transaction and there are 10 of these transactions is there a way of multi-selecting them rather than having to confirm them individually?
To categorize multiple transactions that are recognized by a rule, first you want to make sure you open the Recognized Transactions list (use the drop down arrow to the right of Uncategorized Transactions and then select Recognized). When you are on this screen, you can check one or more boxes to the left of each recognized transaction and you will see a Categorize Now button appear above the Date column. Click this button and it will categorize all of the selected transactions at the same time.
How do you set aside some retained earnings outside of the business checking account? I’m assuming you could categorize it but I would want it categorized as a distribution since I’d just want to move it to like a savings account.
I would recommend opening up a savings account. Then you can transfer money into that account. The retained earnings that shows up on your balance sheet will be there regardless of what bank account the money sits in. That said, if you move the money into a non-business saving account, that should likely be categorized as a draw from the business.
Hello! New subscriber here. I like the way you explain things with ease. Here’s looking forward to watching more videos.🤗
Awesome! Thank you!
Thanks
How to recognise Stripe transactions with stripe fees accounted for in the sales invoice???
How do you classify a bank transaction that isn't considered an expense or income but involves the receipt of funds that represent an account payable from a client (or a bank withdrawal that constitutes an account receivable for a client)?
If you are referring to something like an invoice payment, I would log a payment to the open invoice. Then, you should be able to match the transaction to that invoice payment. If it is a vendor payment, you can do something similar by entering a bill and bill payment into the system and then you can match the transaction to the bill payment.
when the system has a rule for a transaction and there are 10 of these transactions is there a way of multi-selecting them rather than having to confirm them individually?
To categorize multiple transactions that are recognized by a rule, first you want to make sure you open the Recognized Transactions list (use the drop down arrow to the right of Uncategorized Transactions and then select Recognized). When you are on this screen, you can check one or more boxes to the left of each recognized transaction and you will see a Categorize Now button appear above the Date column. Click this button and it will categorize all of the selected transactions at the same time.
what to do with the deposit site?
Hi Istiaq. I'm not exactly sure what you are asking about. Could you please give me some more context?
I think he means " how to match the deposit (credits) against invoices? Which even I wanted to know how?
How to record advance in zoho
Hi Sreejesh. Are you asking about how to record an advance payment from a client/customer?
How do you set aside some retained earnings outside of the business checking account? I’m assuming you could categorize it but I would want it categorized as a distribution since I’d just want to move it to like a savings account.
I would recommend opening up a savings account. Then you can transfer money into that account. The retained earnings that shows up on your balance sheet will be there regardless of what bank account the money sits in. That said, if you move the money into a non-business saving account, that should likely be categorized as a draw from the business.
thank you@@newlightfs