Transaction
Table Of Content
Transaction represent each of your financial activities such as expenses, investment, fund transfer, etc. As WangTool.com PFA use Accounting rule, each of the transaction requires two accounts. However, WangTool.com PFA simplified the entries so that the debit and credit are invisible to users.
In Transaction Maintenance screen, the figure in the amount field is the amount that has direct effect to the From Account. For example, if your From Account is your CASH, putting RM 10 in the amount field means add RM 10 to your CASH account. WangTool.com PFA will use the account rule of debit credit, based on the account type you set for From Account and To Account to determine should increase or decrease the To Account. For example,
- Let said the From Account represents Meal Expenses, and To Account represents Cash. The Transaction amount is RM 10, which increase the Meal Expenses by RM 10, PFA will then decide internally that it need to decrease Cash by RM 10.
- Let said the From Account represents Meal Expenses, and To Account represents Credit Card. The Transaction amount is RM 10, which increase the Meal Expenses by RM 10, PFA will then decide internally that it need to increase Credit Card by RM 10!
| To Account | ||||
| From Account | Income | Expenses | Asset | Liability |
| Income (credit) | Down | Up | Up | Down |
| Expenses (debit) | Up | Down | Down | Up |
| Asset (debit) | Up | Down | Down | Up |
| Liability (credit) | Down | Up | Up | Down |
See also: Type R Transactions, Transaction with 3 Accounts, Import Transaction From CSV File
