Transaction Category

Categorize income and expense type, get real time reports based on these categories to manage your transactions.
Transaction categorization aids the retail user to categorize or split (more than one category) a particular transaction, which will be used for Total income, expense and budget analysis.

Income: Tuition Fee, fund raising, sponsoring organizations, public sources, endowments, programs operating outside the regular school day, and other sources incomes.

Expense: Transaction categories are like for
Ex: Travel, Salary, Rent, Office Expenses –Stationery, Utility bills. etc
Utility bill Category for sub categories are, electricity, gas, water, home phone, mobile phone and broadband.
1. Decide on the right categories for your specific business, Income or expenses.
2. Review and reconcile your bank accounts on a regular basis.
3. Each time you spend money, determine what you're spending it on.
4. Assign that transaction to a category.

Income data has fewer sub-categories and fewer complications than expenditure data, it can be collected more easily, and perhaps more accurately. Total income for operating expenses, therefore, can be used as a rough check of the accuracy of the data collected on total operating expenditures.

To Add New Transaction Categories:

                                          Figure 4

Click on ‘Add New’ tab to add transaction category, refer figure:4, a screen will be displayed, refer figure:5, enter the data in respective form fields.

Form Fields Description:

Name: Enter the name for the transaction category.

Type: Choose between income or expense type.

Description: It is to give description to the transaction category, in detail. If this field is left empty, in the data table view, description column will be empty, refer figure:6. This field is optional.

After the required information is entered, click ‘Save’, “Transaction Category added", green popup screen will be displayed on the bottom right hand side of the screen.

Once transaction categories are saved, all the added transaction category information can be viewed at one place, at front–end, in data table list View, refer figure:6 – Data table View.

Data Table View Description:

                                           Figure 6

Name: Displays name for the transaction category.

Type: Displays between income or expense type.

Description: It is to give description to the transaction category, in detail. If this field is left empty, in the data table view, description column will be empty, refer figure:6. This field is optional.

Edit Transaction Category:

To edit the transaction category, click Edit Enquiry Type icon and a screen will be displayed to Edit transaction category. Fill the required information, to do the changes to the form fields. Once done, click ‘update’, to save the changes. “Transaction Category updated”, green popup notification will be displayed on the bottom right hand side of the screen.

Delete Transaction Category:

To delete , the saved transaction category, click delete Delete Enquiry Type icon and a pop up screen comes up, asking for your confirmation to proceed with the request, click, continue, to delete the data or click close to go back to the data table view. Data will get deleted from the database and it cannot be retrieved again.

You can use, Sort By List and more options - Print and Generate PDF, to view and print, the displayed data table, according to your requirements.