Transactions Overview
Transactions are the foundation of your financial records.
What is a transaction?
A transaction represents money moving in or out of your business - income you receive or expenses you pay.
Transaction sources
- Bank feeds - Imported automatically from connected accounts
- Manual entry - Added by you directly
- Invoices - Created when invoices are paid
- Bills - Created when bills are paid
Required information
- Date
- Amount
- Category
- Description (recommended)
MTD compliance
All transactions must be categorized correctly for Making Tax Digital submissions.