Purchases vs Transactions?
HuskyLogic
Member Posts: 15
Title doesn't really explain anything. I want to know about "Bills" inside the Purchases section vs the "Add Expense" inside Transactions.
Am I correct in saying on the P&L Report they show up on the same place? A bill is one that is entered and paid at a later date? I pay all my bills as I get them so can't I just enter an "expense" in the transactions instead of entering a bill, and then paying the bill?
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Hey @HuskyLogic, thanks for reaching out and great question! So the bills feature is really meant to enable you to keep track of the money you are paying to vendors. So you can create an expense transaction and categorize that transaction as Payment Sent for a Bill in Wave this will then give you a list of all of your unpaid bills and allow you to record a payment directly to it. As you can see in this screenshot:
If you rather just create the expense transaction and not the bill, that is totally fine too!
Thanks Zoe, so if I'm paying the bill at the same time it's entered, there will never be any "unpaid" bills in the system, in which case it wouldn't matter how I did it right?
That's correct, @HuskyLogic !