I'd be glad to help with your questions about tracking expenses from your angel funds, amy21.
There's no option to track expenses out of an income account. Although, you can set up a bank account where the angel funds will be deposited. Then, use the account when recording the transaction so the expenses will be taken out from it.
Here's how:
- Go to the List menu and select Chart of Accounts.
- Press CTRL + N to create a new account.
- Select Bank and click Continue.
- Enter all the details of the account.
- Click Save and close.
Once done, use this account in the Bank Account or Account field when creating checks or paying bills. We also recommend reaching out to your accountant to check if there are other recommendations aside from this.
Feel free to check out this article in case you want to run reports about the expenses that you've made:
You can always reply or reach out to us again if you need anything else from us. We're always here to guide and assist whenever you need help.
