TrulySmall Accounting automatically categorizes all imported transactions as either income (deposits) or expenses (withdrawals). However, you may need to reclassify a transaction as a transfer between accounts or a refund. The following steps will detail how to handle each of these situations.
Convert an Income/Expense record into a Transfer
To convert an existing record into a transfer, follow the steps below:
Step 1
Select the appropriate record on the Transactions page, then click on the "pencil" icon.
Step 2
You may see a pop-up message asking if you want to change the record. Select "Make it a transfer instead".
If you don't see this message, select the drop-down in the Type field and select Transfer.
Step 3
Transfer the funds to the correct account and post it.
If you have multiple transactions of the same type that need to be converted into transfers, you can bulk select the relevant records from the main list, then repeat Step 2 and Step 3 above to complete the changes. This is a great way to save time when you need to send multiple transactions to the same destination account.
Convert an Income/Expense record into a Refund
To convert an existing record into a refund, follow the steps below:
Step 1
Select the appropriate record on the Transactions page, then click on the "pencil" icon.
Step 2
You may see a pop-up message asking if you want to change the record. Select "Make it a transfer instead".
If you don't see this message, select the drop-down in the Type field and select Income Refund or Expense Refund.
Step 3
Lastly, click on the post button to save your changes.
If you have multiple transactions of the same type that need to be converted into refunds, you can bulk select the appropriate records from the main list and repeat Step 2 to complete the action. This is a great way to save time when you need to return multiple transactions back to the original contact.