Use the Add Transaction button in the Accounting section to manually record Deposits and Withdrawals. These will be added as entries in the Accounting, which can later be exported and presented to the beneficiaries.
Creating a transaction
To create a new transaction, click “Add New” and enter in the required information to properly categorize the transaction:
Ensure the transaction is related to the correct estate account (if the estate has multiple estate accounts.)
- Enter a name and associated amount to the transaction.
- Specify whether your transaction goes through the revenue, capital, investment or other accounts (this specification will impact how the transaction appears in the Passing of Accounts report).
- Add additional notes to further classify the transaction and then click “Save”.
Linking transactions to the Inventory
To link the transaction to an asset sale, choose Deposit as your cashflow type and select “Asset Sale/Bank Transfer/Deposit”. Two new fields will appear to allow you to select the correct asset from the inventory.
To link the transaction to a liability payment, choose Withdrawal as your cashflow type and select “Loans Payable”. Two new fields will appear to allow you to select the correct liability from the inventory.
Once the transaction is created, the associated item will appear as Realized in the Inventory, and its current value to the estate will be brought to $0.
Importing and exporting files
- Export will export all the transactions to an .XLS file.
- Import will allow you to import a list of transactions (CSV, Excel, or PDF) in bulk. See the article on Estate Accounting for further instructions.
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