Accounting questions, answered

A record of a financial transaction with at least one debit and one credit, where total debits equal total credits.

For transactions without their own screen, such as adjustments, accruals, depreciation, corrections and opening balances.

No. Use the bill or invoice screens, which also update vendor and customer balances.

They are the two sides of every entry. Debits increase assets and expenses; credits increase liabilities, equity and income.

A single list of every transaction in your books, from all modules, with filters by type and date.

Money paid out and money received — for example categorized bank or card transactions and direct payments.

Not every transaction has a customer, vendor or payee, or a memo. For example, some bank deposits have no name.

View shows the journal entry — the accounts debited and credited. View Transaction Details opens the original transaction with all its details.

Every depreciation entry posted, by asset and category, with the total and a breakdown by category.

Yes. For example, choose a category and Past 6 months to see that category's depreciation over the last six months.

How the total depreciation splits across your asset categories. Each color is one category, and its amount and share are listed underneath.

Depreciation appears only once it is posted. If the asset is set to Auto, the entry may be waiting for approval in the Needs your attention list. If it is set to Manual, post it from the Fixed Assets screen.