In Solo, you can record income you receive that is not a payment for an invoice but is still related to your business. You might record income for things like one-off sales where a customer pays in cash and does not want an invoice.
And if you have connected your bank account to the app, you won’t need to record the income and can instead categorise money that comes through from your bank as income, like bank account interest, donations or government grants. These transactions can include personal income too, like wages from another job.
If you have not connected any accounts, you can record these types of transactions as income.
When you record income, you can also track any GST associated with the money.
Create a record of income
Note: If the money has come into your bank account, and you’ve connected that account to the app, you’ll just need to review and categorise the transaction as income when it comes in.
When you’ve received money for something that you haven’t sent an invoice for, you can record it as income. Go to Money in, tap + and Record income to get started.
If you weren’t paid today, tap the date and choose the new date.
If a customer paid you the money, add them.
Tap Payment category and choose the account you were paid into. If you were paid in cash, tap Cash.
Choose the Income type. If the income is for more than one item, choose Split to add line items.
Choose an Income category. Each category has a tax code, so if you’re GST registered, the right amount of GST will be automatically applied.
Add the amount.
Tap Save.
Change recorded income
Go to Money in.
Scroll down to underneath the Money in graph and tap View all income.
Choose the recorded income.
Tap the Edit button at the top right of the screen.
Update the details.
Tap Save.
Delete recorded income
Go to Money in.
Scroll down to underneath the Money in graph and tap View all income.
Choose the recorded income.
Tap More (…) and tap Delete.
Tap Delete again to confirm.
FAQs
Do I need to add a customer?
You do not need to add a customer for recorded income. For example, if your customer paid in cash, and you’re not sure of their details, you can record it as a cash sale and not include a customer.