Entering Transactions
To record a transaction, first, click the 'Deposit' or 'Withdrawal' icon in the toolbar. Fill in the Date Information field with the date of the transaction. (Future dates are allowed for transactions that will occur at a later time)
Next, the "Type or Check #" field is designed to keep track of transaction information such as check number or type of transaction, like 'ATM' or 'BANK'. Entering information in this field about your transaction will help you keep track of where or how you spent or deposited your money. Feel free to add your own types such as 'WEB' or 'EFT' to help you organize your purchases. My Checkbook will remember the types you enter for later use. When you have entered in all of the information (memo is optional), click 'Deposit' or ‘Withdrawal’ to record that transaction.
Some recommended types are:
BANK - transaction occurred directly at the bank, like a deposit or cash withdrawal
EFT - Electronic Funds Transfer
POS - Point of Sale
Web - This was a purchase made online
Fee - This was a fee charged by your financial institution
ATM - transaction done at an ATM (Automated Teller Machine)
Phone - you made a payment over the phone
The "Description" of the transaction is usually the name of the Payee for checks and withdrawals, or the provider of funds for a deposit. It can also be used for the purpose of the transaction when dealing with cash withdrawals. For
a cash withdrawal, you might choose to enter the description of "Ted’s Diner" if the money was taken as cash from an ATM to be spent at a restaurant called Ted’s Diner. This will help you categorize your spending so you can see how many times you take out cash to go to Ted’s Diner.
The "Amount" should always be entered as a positive number. Even when creating a new withdrawal, enter the amount (in positive number) of how much was spent. So, if you spent $5.00 at a grocery store, enter 5.00 (shown in US dollars). Do not enter -5.00 because you actually "subtracted" five dollars from your account. Entering a negative number will cause a withdrawal to become a deposit. This is only useful if you accidentally entered a withdrawal but
meant to enter a deposit, or the other way around.
The "Memo" field is completely optional, and may be used to store any information you like. It can be used to keep little notes about transactions that may be helpful to you in the future. For example, you could keep a confirmation number in the memo if you made a payment by telephone and you wanted to keep the confirmation number the phone agent gave you at the time of your payment.
Checking the "Posted" checkbox is your way of telling My Checkbook that this item has "cleared" your bank. When you write a check or use your Debit card, the bank is not always immediately aware of the transaction. Your bank may take several days to "process" the payment. Once you get your bank statement and verify that the bank has "processed" this transaction, you would mark the item as Posted. You can do this from the transaction editor, or by turning on the Reconcile Mode from the Account menu when viewing the account register.
Next, the "Type or Check #" field is designed to keep track of transaction information such as check number or type of transaction, like 'ATM' or 'BANK'. Entering information in this field about your transaction will help you keep track of where or how you spent or deposited your money. Feel free to add your own types such as 'WEB' or 'EFT' to help you organize your purchases. My Checkbook will remember the types you enter for later use. When you have entered in all of the information (memo is optional), click 'Deposit' or ‘Withdrawal’ to record that transaction.
Some recommended types are:
BANK - transaction occurred directly at the bank, like a deposit or cash withdrawal
EFT - Electronic Funds Transfer
POS - Point of Sale
Web - This was a purchase made online
Fee - This was a fee charged by your financial institution
ATM - transaction done at an ATM (Automated Teller Machine)
Phone - you made a payment over the phone
The "Description" of the transaction is usually the name of the Payee for checks and withdrawals, or the provider of funds for a deposit. It can also be used for the purpose of the transaction when dealing with cash withdrawals. For
a cash withdrawal, you might choose to enter the description of "Ted’s Diner" if the money was taken as cash from an ATM to be spent at a restaurant called Ted’s Diner. This will help you categorize your spending so you can see how many times you take out cash to go to Ted’s Diner.
The "Amount" should always be entered as a positive number. Even when creating a new withdrawal, enter the amount (in positive number) of how much was spent. So, if you spent $5.00 at a grocery store, enter 5.00 (shown in US dollars). Do not enter -5.00 because you actually "subtracted" five dollars from your account. Entering a negative number will cause a withdrawal to become a deposit. This is only useful if you accidentally entered a withdrawal but
meant to enter a deposit, or the other way around.
The "Memo" field is completely optional, and may be used to store any information you like. It can be used to keep little notes about transactions that may be helpful to you in the future. For example, you could keep a confirmation number in the memo if you made a payment by telephone and you wanted to keep the confirmation number the phone agent gave you at the time of your payment.
Checking the "Posted" checkbox is your way of telling My Checkbook that this item has "cleared" your bank. When you write a check or use your Debit card, the bank is not always immediately aware of the transaction. Your bank may take several days to "process" the payment. Once you get your bank statement and verify that the bank has "processed" this transaction, you would mark the item as Posted. You can do this from the transaction editor, or by turning on the Reconcile Mode from the Account menu when viewing the account register.