Transaction - Journal



  • Official comment
    Benjamin George

    Hi Chong Cheng Sing,

    Financio does the double-entries for you. Based on your example:

    "Sold tyre to John RM 5000."

    You may use the deposit function to record this if you are not issuing an invoice.

    1) Select the contact "John" under Payment From.
    2) Payment Method in this example would be Cash.
    3) The cash received will be placed in my Cash on Hand account which is selected in the Deposit To field.
    4) Finally, under the Item Lines, select either the product or services sold or the category you'd like to have this income recorded in. In this example, we'll use a general Sales Income category.
    5) Lastly, select Save & Approve.


    If you need to review how this is recorded, you may select the Show Journal Entries option found on the top right corner

    In this example, you'll see that based on your inputs, Financio Debits: Cash on Hand; Credits: Sales Income.

    Hope this helps! 

    Travis Tai - Community Manager

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  • Benjamin George

    Hi Chong, 

    I think the right method is to record it as a sales income as this will reflect on your P&L report. Hope this helps address your concern.

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    Hi Benjamin,

    I also think in that way.

    But won't it be contradict with the real account's golden rule of debit what come in and  credit what go out?


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  • Benjamin George

    Hi Chong,

    Yes, you are right. It's just that Financio does all the double entries for you based on the example provided above. If it's an Income/earning you may record it as a deposit and if it is a purchase/expense you may record it as Withdrawal. 

    hope this helps,


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