How do I record an operating expense as a self-employed person?

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  As a self-employed individual, you are required to file a tax return each year. Although consulting an accountant is always advisable, the Psylio platform provides features that can help you organize your finances and save time. Track your income and ...

• Why are my revenues recorded according to the billing date and not the payment date?

  In the vast majority of cases, your accounting method will require revenue to be recognized according to the date on which the service is rendered and not according to the date of payment. This is known as accrual accounting. According to the Canada ...

• What happens to the financial records when I delete a client record?

  Deleting a client record in Psylio does not impact financial records. According to the law, all financial data, including client payments, must be retained for 7 years. Therefore, even after deleting a record, client payments remain recorded in your ...

• Is it possible to record partial payments?

  Yes, partial payments can be recorded on two separate invoices. Here's how: Create two invoices for the same service. Add a line on each invoice to subtract the amount paid by the other payer. Invoice for the first payer (the client, for example): ...

• How do I generate a payment receipt?

  First, open the record of the person in question, go to the Invoicing tab and select Paid. Find the invoice for which you wish to send a receipt and locate the vertical ellipsis icon at the end of the row. Click on it to open the drop-down menu, and ...