Simple Money Management: Understanding Transaction Categories in ProfitFlow

Money doesn't have to be complicated. That's why ProfitFlow's transaction categories follow a refreshingly simple model: Money In and Money Out. No fancy accounting terms, no complex classifications - just a clear view of your cash flow.

Let's Break It Down

Money In:

• Client payments

• Sales revenue

• Rental income

• Any other money coming into your business

Money Out:

• Regular bills

• Supplier payments

• Staff costs

• Any other expenses

It's that simple!

Organising Your Categories

While the basic concept is straightforward, you can organise your categories into groups that make sense for your business. For example:

Money In Groups:

• Regular Income

• One-off Projects

• Investments

• Other Income

Money Out Groups:

• Fixed Costs

• Variable Expenses

• Marketing Costs

• Loan Repayments

Making Life Easier with Default Vaults

Each transaction category can be linked to a default vault. This means when you record a transaction, ProfitFlow automatically suggests where the money should go. For instance:

• Client payments might default to your main business account

• Regular bills might default to your expenses account

• Tax portions might default to your tax savings vault

The Power of Simplicity

By keeping things simple, you can:

• See your money flow clearly

• Make better financial decisions

• Save time on data entry

• Reduce errors and confusion

Remember: ProfitFlow focuses on real money movement - what's coming in and what's going out. No complex accounting rules, just clear financial visibility.

Ready to simplify your financial management? Join our beta programme and experience the power of simple, intuitive cash flow management.

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