Add or edit expenses

You can add or edit expense transactions to help you keep track of the expenses you pay in the course of business.

Note: You cannot change the type of transaction. For example, if you entered an expense that was actually a deposit, you must delete the expense and enter the transaction again as a deposit.

  1. Do one of the following.

    • Enter a new expense: In the Banking screen, click New Transaction, or click the down arrow for the Retrieve Bank Feeds button > New Transaction, and then click Expense.
    • Edit an existing expense: In the Banking screen, click the expense that you want to change.
  2. Enter or change the information.
    • Date field: Defaults to the date you add the transaction.
    • Category field:

      • Personal: For expenses you want to exclude from the calculation of Net Profit or Loss and for any expense that is not related to your business.

        Example

        If you write a check for a total purchase price of $500.00 for goods but within the purchase there are $50.00 of goods for your personal use, you will enter an allocation for $450.00 of business goods and a second allocation for $50.00 of personal goods.

      • Uncategorized: For expenses that do not fit in another category.

        Note: OnBalance will automatically categorize the transaction if you added a transaction rule for the expense.

  3. Click Upload Receipt if you want to attach a receipt to the transaction.
  4. Click Save & New to make another entry, or click Save & Close to close the screen.

Note: This feature is available for the iPhone 6s, 7, 8, or X.

  1. Do one of the following.
    • Enter a new expense:
      • In the Banking screen, tap > > New Expense.
      • Use the app shortcut on your device to quickly enter a transaction without opening OnBalance. Force touch the app icon on your device, and select New Expense.
    • Edit an existing expense: Tap and then the expense you want to change.

  2. Enter or change the information.

    Note: When using an iPad, tap Edit for the expense.

    • Date field: Defaults to the date you add the transaction.
    • Category field:
      • Personal: For expenses you want to exclude from the calculation of Net Profit or Loss and for any expense that is not related to your business.

        Example

        If you write a check for a total purchase price of $500.00 for goods but within the purchase there are $50.00 of goods for your personal use, you will enter an allocation for $450.00 of business goods and a second allocation for $50.00 of personal goods.

      • Uncategorized: For expenses that do not fit in another category.
  3. Tap Save.

Note: This feature is available with the Nougat operating system or above.

  1. Do one of the following.

    • Enter a new expense:
      • In the Banking screen, tap > > New Expense.
      • Use the app shortcut on your device to quickly enter a transaction without opening OnBalance. Press and hold the app icon on your device, and select New Expense.
    • Edit an existing expense: Tap and then the expense you want to change.

  2. Enter or change the information.

    Note: When using a tablet, tap Edit for the expense.

    • Date field: Defaults to the date you add the transaction.
    • Category field:
      • Personal: For expenses you want to exclude from the calculation of Net Profit or Loss and for any expense that is not related to your business.

        Example

        If you write a check for a total purchase price of $500.00 for goods but within the purchase there are $50.00 of goods for your personal use, you will enter an allocation for $450.00 of business goods and a second allocation for $50.00 of personal goods.

      • Uncategorized: For expenses that do not fit in another category.
  3. Tap Save.

The availability of some or all of these features depends on your OnBalance bundle.

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