Terminology - Payments, and Expenses, Sales and Purchases
- In KoalaBrain, 'payments' and 'expenses' refer to money moving into a till float or banking account, and money out of a till float or banking account, respectively.
- This is often referred to as CR (Credit) and DR (Debit) in accounting packages.
- The terms 'payment' and 'expense' in KoalaBrain are used to reduce confusion with payment methods like debit cards and credit cards and to make clear the specific object being discussed during support calls and in documentation.
- So, a payment or expense always refers to the currency amount in and out of an account or float, while the Sale or Purchase refers to the associated product or service provided.
- A third transaction, a transfer, refers to an amount transferred between a float or bank account within KoalaBrain.
- For an overview of all money movements in the application, you can look at the Banking Easy Report for clarification.