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jukino33
Level 1

How to create deposit instead expence?

 
1 Comment 1
JamesDuanT
Moderator

How to create deposit instead expence?

The bank deposit and expense are two different transactions that affects your bank, jukino33.

 

Bank deposit increases your bank balance while the expense do the opposite.

 

Here's how to create the bank deposit:

  1. Click the + New button on the left menu and select Bank deposit.
  2. Enter the bank account in the Account field.
  3. Enter the deposit date and other necessary details.
  4. Go to the Add funds to this deposit section.
  5. Enter the details for ACCOUNT, DESCRIPTION, PAYMENT METHOD, and AMOUNT.
  6. Click Save and close.

Here's how to create the expense:

  1. Click the + New button on the left menu and select Expense.
  2. Enter the Payee and the Payment account (bank account).
  3. Enter the Payment date and method.
  4. Fill in the columns under the Category details section.
  5. Click Save and close.

You might also want to know the difference between bills, checks, and expense.

 

You can also consult your accountant if you require additional explanation between the two transactions.

 

Let me know if you have more questions about this. We got your back!

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