Sometimes your business activity may happen outside of your bank or credit card accounts. Cash income and expenses are one example of that. Ambrook allows you to manually track the balance of your “Cash on Hand" by either recording transactions or creating them directly from your receipts.
Setting Up Your Cash Account
You already have a Cash on Hand account by default in Ambrook, but you may want to set a starting balance so that the balance of the account over time is correct as you record transactions. To update your starting balance:
Go to the Balances page.
Click on the Cash on Hand account.
Scroll down on the menu to the Details section.
Click the pencil next to the Starting Balance.
Update the balance to be the amount of cash you currently are holding outside of your bank account.
Click Confirm to save your starting balance.
Entering a Cash Transaction
Once your beginning balance is set, you can record Cash transactions as they occur. You can create transactions either manually from the Ledger or by uploading a receipt.
Adding Cash Transactions Manually
To create a new transaction manually:
Go to the Ledger.
Click the New button at the top of the Ledger.
Select Transaction.
Choose Cash on Hand as the Account.
Enter whether it's an income or expense and the amount, date and description for the transaction.
Click Record to record the transaction to your Ledger.
You can now tag the transaction to the appropriate income or expense category.
Adding Cash Transactions from a Receipt
To create a cash transaction from a receipt:
Go to the Receipts page by clicking the Receipt button in the upper right corner of the Ledger on either your computer or the Ambrook app on your phone.
Upload or take a photo of a receipt (see Managing Receipts for detailed instructions on uploading receipts)
Once the receipt has uploaded, click the Review button on the receipt.
Choose Create New Transaction.
In the Transaction window that opens, select Cash on Hand as the account.
Add the amount, date and description for the receipt.
Select Record. This will create a new cash transaction on your Ledger linked to this receipt.
Cash transactions can be broken into line items or have receipts attached just like any other transaction.
Note: Ambrook's receipt technology attempts to help you by reading information from some receipts such as the receipt amount, date, and line items. Its accuracy depends on the quality of the photo as well as the format of the receipt.
You can always edit the amount, date, line items and description when creating the transaction, so don't worry if some details are initially read incorrectly.
Deleting a Cash Transaction
To delete a cash transaction (or any transaction you created manually):
Click on the transaction from the Ledger.
Scroll down to the bottom of the panel.
Click Delete Transaction.
Don’t worry about accidentally clicking the Delete Transaction button. After you click it once, we ask you to confirm your decision.