Sometimes it might look like the same transaction appears twice in the app. Here are a few examples.
- Moving money between accounts: When you move money between your checking/chequing and savings accounts, you will see an expense, which is the money leaving your checking/chequing account, and an income transaction, which is that same money being deposited to your savings. Both should be marked as Transfers.
- Income to connected accounts: Suppose you have both a PayPal and a checking/chequing account connected to the app. If a client pays you $500 via PayPal, you'll see that income in your connected PayPal account. Then, if you move that $500 to your checking/chequing account, you'll see the $500 in income again there. The PayPal transaction should be marked as Business Income, and the checking/chequing account transactions should be marked as a Transfer. That's because you received the income in PayPal and simply moved that same money.
If you find that a transaction is not marked correctly and is double-counted, you can change the category manually. You can also create a rule to tell our system to always mark transactions like these as Transfers.
For Etsy users (US and UK only):
When you receive income from Etsy, we'll categorize the Etsy transaction as Business Income, and when it gets deposited into your bank account, we'll mark it as a Transfer. This transfer won't be counted in your income. If you find that a transaction is double-counted, you can change the category manually. You can also create a rule to tell our system to always exclude these transactions from your reports.