Create a bill from a bank line
Turn a withdrawal that has no bill behind it into a paid bill, with a vendor, an expense category and the sales tax, in one step.
A bill is an invoice someone sends you. Plenty of spending never comes with one you enter: bank fees, a quick purchase on the business card, a monthly subscription. To count it as an expense, Todah needs a bill for it. This shortcut creates the bill from the bank line and matches them together.
Step by step
- In the menu on the left, choose Banking.
- Find the withdrawal in Transactions and choose Match.
- At the bottom of the Match Transaction window, under Create a Bill from This Entry, choose the Vendor.
- Choose the Category.
- Choose the Sales Tax that was charged, or No tax. The line under it shows how the amount splits, for example "$105.00 includes $5.00 GST; $100.00 before tax."
- Choose Create Bill & Match. A "Bill created and matched" message appears and the line shows as Matched.
What each box means
| Vendor | Who you paid. Pick from your vendors (archived vendors are not listed), or leave it as None. To add a new vendor, close the window, add the vendor under Vendors, then come back. |
|---|---|
| Category | What kind of expense it was, for example fuel or bank charges. This is what puts the spending in the right line of your profit and loss. Leave it as Uncategorised only if you will fix it later in the bill. |
| Sales Tax | The GST, HST or other sales tax included in the amount, from the taxes set up in Settings. The amount on your bank statement already includes the tax, so Todah works the tax part out of it rather than adding it on. Choose No tax for things with no sales tax, such as bank fees, insurance or wages. |
What the bill looks like
- Dated the bank date, for the amount of the withdrawal (or what was left of it, on a part-matched line), already marked Paid.
- One line, described with the bank's description, in the category you chose, with the tax you chose. The line records that tax by name (for example GST, or GST + PST), just like a bill you type in, so its tax counts as tax you paid and lands on the right GST/HST return lines.
- Its notes say "Created from bank transaction".
Changing your mind
To correct the bill itself (a different vendor, category or tax, or several lines instead of one), choose Edit on it in Bills. Its total cannot go below the amount the bank line paid.
To undo it, choose More actions → Unmatch on the line. The bill goes back to Outstanding and stays in Bills, and Todah says "Unmatched. The bill is back to Outstanding." If you made the bill by mistake, unmatch the line first, then delete the bill in Bills (owners and admins). While the line is matched, Bills does not delete the bill and says "This bill is matched to a bank transaction. Unmatch that transaction in Banking first, then delete the bill."
Good to know: This option only appears for withdrawals. For a deposit, the same place offers Record Income from This Deposit.
See also
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