Money out

Use Money Out to record payments and expenses you have paid for. This could be for a regular supplier or for things you've bought. Use this when you are not importing transactions from a bank feed or bank statement.

What you need to know

Enter the details of the money you've paid out to a supplier or for another expense.

Then choose the so you know what the money was for. This is important to help you track where what you're spending your money on. If you've bought some petrol for example, you might want to record this against the 7300 Vehicle Fuel.

We show the default automatically. Change this on each line as required or set a new default in the settings. Read more about Record and Transaction settings.

If the money is for more than one or VAT rate, enter the details on separate lines. When you enter more than one line, the payment shows as a single total on your bank account activity and bank reconciliation. It shows as individual amounts on your categories.

Record money out

  1. Select Banking, then open the correct bank account.
  2. Select New Entry, then Money out.
  3. Enter the bank account, payment method, date and total amount received.
  4. If required, enter a supplier and a reference.

  5. Enter the remaining details.

    • Change to a different if required. Use this to categorise what the money is for.

    • Choose the correct VAT Rate. The VAT calculates from the VAT rate you select.

    • The Total defaults to the value you entered in Amount Received. Change this if you're entering more than one line.

  6. If your payment is for several items, enter these on separate lines.

    • The total for all lines must match the Amount Received before you can save.

    • If you only know the gross value of an single item, tab to the Total and enter the gross amount. Tab again or press Enter. We update the Net and VAT amounts for you.

  7. If you want to attach a file, such as a copy of a receipt or an invoice, select the Attachment button then choose Upload to upload files then browse to and double-click the file. Find out more about attachments

  8. Select Save, or to add another receipt, select Add Another from the Save drop-down list and repeat the process if required.

If this is a payment you make regularly, for example, once a week or once a month, you can set it as a recurring payment. Read about recurring payments.

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