Recording Income After the Bank


Note: To record income before it is deposited into your bank account, see Record Income.

To record income after funds are deposited into your bank account:

  1. Under the Banking tab, click Download.

  2. Select your bank account from the list and set your date range.

  3. The Customer and the Account is selected for you. Click the green Copy and Reconcile button.

You've successfully recorded income already deposited in your bank account.

If your customer isn’t selected

If your customer isn’t selected it may be because you haven't created a customer profile for them yet. Click on the empty box in the Payee column next to the date you were paid and see if your customer is in Monchilla. If the customer does not have a record, click on the Add a New Payee link. The Customer Profile page appears.

The customer name is already filled out based on the description downloaded from the bank. Remove the extra text. If you can keep part of the description downloaded from the bank Monchilla will be able to automatically match transactions for this customer. Scroll to the bottom and click Save.

If your customer isn’t selected even though it’s already in Monchilla

If Monchilla didn't automatically select the customer, the description downloaded from the bank doesn't include the name of the customer. Select the customer in the Payee box.

Income, Accounts, and Customers

Most of the time you can record all income using a single income account such as "sales income" and this is how your account is setup by default.  In rare cases your CPA will tell you to record income (like interest income) separately from your other income.  If that is needed it is easy to create additional income accounts in Monchilla.  

Anytime you receive income it should be associated with a customer.  If it is interest income you can create a customer for your bank.  It is not unusual to have a customer with your bank name for interest earned as well as a supplier with your bank name for bank fees paid.

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