Lesson 35 of 64
Stock, finance & operations
Record business expenses and cash or bank transfers
Post an expense voucher or transfer without confusing cash movement with income or profit.
Before you begin
Prepare the receipt, business purpose, payment date and authorised money account.
Step by step
- Open Accounting and choose the expense or cash/bank transfer action appropriate to the event.
- For an expense, select its account, amount, date and paying account, then enter a useful description and reference.
- For a transfer, verify distinct source and destination accounts and the actual amount moved.
- Review the confirmation before posting. Reopen the saved voucher or transfer and its linked journal.
- Check cash or bank ledgers for the same date. Use a linked correction for a mistake instead of posting the same item again.
Check the result
An internal transfer should move balances between the intended accounts without becoming a second expense.
Common question
Should personal spending be entered as a business expense?
Use Personal Records for your private spending log. Business accounts should contain the business transactions approved by your reviewer.