Entering Income from the Transactions Page
You can enter income or expense transactions by clicking the orange "Add Transaction" button in the upper right corner.
A box will appear allowing you to enter pertinent information about the income received.
Make sure to enter all the info for the income!
1. Date - Select the date of when the income was received.
2. Income Source - Enter who the money was received from.
3. Total Amount - How much was received.
4. Category - The categories in Deductr are taken from the Schedule C, which you will file at tax time.
Black = Expense
Blue = Income
Orange = Charitable Contributions
5. Account - How was the money received.
6. Business Purpose - Why you received the income. This is important for the IRS if you are ever audited. A detailed description is always better than a short simple one.
7. Click "Add" and you are done!
The income now shows in the log. And, if you click on the line item, you can edit the transaction.
And that’s it! Quick and Easy.