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An accounting transaction is a business event having a monetary impact on the financial statements of a business. When you collect or make payouts through O...

When you collect or make payout through Open Account, the transactions automatically get saved under the ‘Accounting & Taxes‘ section in the ‘Accounting...

To manually record a transaction: 1. Go to the ‘Accounting & Taxes ’ section and then click on the ‘Accounting Transaction’ tab under the ‘Accountin...

Journal entries are used to create adjustment entries in books, where you would need to adjust the debit and credit amounts, where Bank or cash accounts are...

You can view transactions of connected bank accounts. Here’s how: 1. Go to the ‘Accounting & Taxes’ section and then click on ‘Accounting Transactio...

Yes. You can edit a pre-existing accounting transaction, provided it was a manual transaction. 1. Go to the ‘Accounting & Taxes ’ section and then clic...

When you link your bank accounts (non-partner banks) with Open, only your recent transactions can be imported but other details like the contact name can’t ...

Income is referred to as the revenue that your business earns. This could be from the sale of products or services. You can manually add transactions and ca...

Expenses are referred to as the revenue that your business spends. You can manually add an expense by following these steps: Go to the ‘Accounting &...

A journal is a detailed record of all business transactions. It helps in the process of reconciling and backtracking transactions. Here’s how you can add a ...