Categorising income & expenses
It's easy peasy, lemon squeezy 🍋
Categorising your income and expenses (whether your bank account is connected to stub or not) is an important step in knowing where your money is coming from and going to. Make sure that all your transaction details ar of your money coming in and going out of your business is correct.
When you sync your account transactions we will automatically create income and expenses for you and all you'll need to do is categorise them!
Think of categorised income and expenses as verified - tick! âś…
And any income and expense that has not been categorised still needing your attention. ⚠️
How to categorise income
1. Log in to your stub account at stub.africa
2. Make sure you have connected your bank account
3. In the left navigation menu, click on Sales
âť—We will create income from your synced account transactions for you, sometimes you may need to categorise them. There will be a notification in red showing which still need to be categorised.
4. Within Sales, you will see a list of all your income created from your account transactions and any created manually.
âť—Income shows the flow of money coming into your business through either sales you've made or through other forms of other income like investments.
(i) Income that looks like the image below have been categorised
(i) Income that looks like the image below needs your attention and to be categorised
5. To categorise income, click on the category menu icon of the income you want to categorise. A drop down menu will appear, and you can search for and select the correct category.
6. To add more income details, select the income and in the right slide out panel, you can see and edit the income amount, invoice, customer details and linked bank transaction. Once you are sure everything is correct, click Save.
How to categorise an expense
1. Log in to your stub account at stub.africa
2. Make sure you have connected your bank account
3. In the left navigation menu, click on Expenses
âť—We will create expenses from your synced account transactions for you, sometimes you may need to categorise them. There will be a notification in red showing which still need to be categorised.
4. Within Expenses, you will see a list of all your expenses created from your account transactions and any created manually
âť—Expenses shows the flow of money leaving your business from purchases of inventory, assets, supplies, software etc...
(i) Expenses that looks like the image below have been categorised
(i) Expenses that looks like the image below needs your attention and to be categorised
5. To categorise an expense, click on the category menu icon of the expense you want to categorise. A drop down menu will appear, and you can search for and select the correct category.
6. To add more expense details, select the expense and in the right slide out panel, you can see and edit the expense amount, supplier details and linked bank transaction. Once you are sure everything is correct, click Save.
How to edit income or expenses
If you want to edit any details of a particular income or expense, simply click on the the income or expense and a slide out panel will appear on the right of your screen with all the information. You can edit the details, change the category and, remove linked account transactions.
