Category: Banking

Your daily transactions will vary in the method of payment. Payments we receive from customers or payments we make to our vendors will be through banks, or even through cash. It is important that all those transactions are matched from your bank to your Accounting software. Certain subscription packages in myBooks allow you to connect […]

The above is the video to upload bulk items on myBooks. Here is a step-by-step explanation about reconciling the transaction Once the automatic feeds from bank loaded or bank statement are uploaded, transactions which have loaded will be displayed under deposits and withdrawals. Amounts displayed under deposits will reflect sales and the amount displayed under […]

Customer advance means payments received from customers before the goods are delivered or services are performed. You can categorize those transactions here Click on the amount displayed under deposits and select the transaction type as Customer advance. Enter all the necessary information and documents can be uploaded by clicking on upload icon. Click on save […]

Goods or services rendered by the business and for those services or goods customer will make a payment and those payments can be categorized here. Click on the amount displayed under deposits and select the transaction type as customer payment. Enter all the necessary information and documents can be uploaded by clicking on the upload […]

Split by Customer Click on the amount displayed under deposits and select the transaction type as Cash invoice. Enter all the necessary information and documents can be uploaded by clicking on upload icon. Click on save to save the transaction. Split by Item Click on the amount displayed under deposits and select the transaction type […]

This reconciliation process matches, transfers from one account to another account. Click on the amount displayed under deposits and select the transaction type as Transfer from Another Account. Enter all the necessary information and documents can be uploaded by clicking on the upload icon. Click on save to save the transaction. Match transaction for transfer […]

Interest income is the amount of interest that has been earned during a specific time period Income which was received through interest. You can match those transactions here. Click on the amount displayed under deposits and select the transaction type as interest income. Enter all the necessary information and documents can be uploaded by clicking on the upload icon. Click […]