Transaction is a movement of money on the accounts. For example, a deposit payment is an income and utility bills is an expense, a safe drop of cash from cashbox to safe is a transfer between accounts.
Add transactions to control the incomes and expenses of your location.
To add a transaction:
Go to Finances → Transactions in the management console.
Click Add.
Choose operation type: Income, Expense or Deposit.
Enter transaction sum.
Choose account and category.
Enter time and date.
💡 If you need to account for the transaction in a different month, enable the Accrual Date option and enter the desired time and date. For instance, the rent may have been paid in September, but if the obligation to pay arose in August, it should be accounted for in August.
Click Save.
Edit transaction categories and comments by clicking them in Finances → Transactions. Category 'Transfer' cannot be edited, but comments for these transactions can still be modified.
🚫 Transactions added in POS app cannot be edited in Finances → Transactions. Edit such transactions in Finances → Cash shifts. To do this click on the cash shift and click Edit next to the transaction.
To display some extra info about the transactions, like time and remaining balance on the account click ⿲ Columns.
Accrual date of the transaction
The Accrual date allows for the accounting of prepayments and postpayments, ensuring that the transaction amount is included in the correct period of the P&L report.
The Transaction Date refers to the actual date the money is transferred.
The Accrual date represents the date when the payment obligation arose.
Enter the Accrual date to capture the period of obligation. The transaction amount will appear in the Finance → P&L tab based on the Accrual date. Here are a couple of examples to elucidate:
Example of Prepayment:
Suppose you have a rental agreement and you pay the rent in advance on the 10th day of the month. You need to account for this expense in the following month, though it was paid a month earlier.
Create a transaction for the payment amount. Set the transaction date as today, and the accrual date as 10th November 2023. By doing so, the transaction will be included in November's P&L report, even though the payment was made in October.
Example of Postpayment:
You're paying salaries to employees for the previous month. The obligation to pay these salaries arose last month, but you are making the payment today.
Set the Accrual date as 31st January 2023, and the payment date as 5th February 2023. By doing so, the transaction will be included in January's P&L report, even though the payment was made in February.
Feel free to contact our customer support if you have any questions or concerns. We're available in chat @joinposter.com and email contact@joinposter.com
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