How do I record a business transaction?

How do I record a business transaction?

Psylio lets you record and track your business expenses, as well as income that isn’t linked to invoicing (other income).

Set up income and expense categories

Before recording an expense or other income, make sure your categories are set up correctly.
  1. Go to Settings > Finance.
  2. Open the Revenue or Expenses tab.
  3. Add new categories or edit existing ones to match your needs (ex: equipment, travel, subscriptions).

Add a transaction

Once your categories are set up, you can add a transaction automatically from a receipt or invoice, or enter the information manually.
  1. Go to the Finances section and open the Expenses or Other income tab.
  2. Click Add transaction.
  3. Add an invoice or receipt (image or PDF).
  4. Enter the transaction information using one of the following methods:
    1. From a receipt or invoice: Upload your receipt or invoice (image or PDF). Some fields, such as the invoice number, amount, and taxes, will be filled in automatically. Review the detected information, then complete the remaining fields.
    2. Manual entry: Enter the transaction information manually:
      1. Invoice or receipt number
      2. Category
      3. Payment method
      4. Invoice and payment dates
      5. Amount and applicable taxes
  5. Click Save.