You can use Record Income feature if you would like to enter income directly to a bank account. In situations like where you get some royalty from creative work, this feature can immensely be useful and save time. Some situations when you want to use Record Income are:
- Royalty from a book or music work
- Commissions from your efforts
- Rent from rental properties
- Income from creative arts that is if you are an actor, musician, painter, makeup artist etc
- Any other income when you don't need to create an invoice.
You can enter or edit any transactions that occurred in the account through this feature.
Record a New Income
1. Go to Accounts and click Bank Accounts.
2. Select the account you are adding the entry to and click Manage.
3. Click Record Income.
4. Click Add New.
5. Fill in the details as required.
6. Once all the information is in, click Save.
Please note if the payment is made through a check, select Pay by Check and enter the Check Number and/ or Memo.
Edit a Recorded Income
To make any changes to the recorded income, follow the steps mentioned below.
1. Follow Steps 1-3 as mentioned above in Record Income.
2. List of Recorded Income will appear. Select the transaction you want to edit.
3. The detailed screen of the entry will appear. Click Edit.
4. Make the required changes and click Update.
- Fields with a yellow background is a required field and can be edited.
- Fields with a grey background cannot be edited.
- Fields with a white background are optional.