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What’s the difference between a manual transaction and a regular transaction?

What’s the difference between a manual transaction and a regular transaction?

A manual transaction refers to an entry added to your Found activity for bookkeeping purposes. The key difference between a manual transaction and a “regular” transaction is that manual transactions do not move money into or out of your Found account.

For example, if you used a separate credit card to make a business purchase to take advantage of that credit card’s perks, you can add a manual transaction for that purchase in Found. This way, you’re keeping track of your expenses and Found is considering that expense as a deduction against your estimated tax payment.

The same applies to reporting income. Let’s say that you were paid for a service in cash. You can add a record of that income to Found by tapping the Add Income option on the Activity tab. Similar to manual transactions, this income is a bookkeeping record and does not refer to an actual deposit into your Found account.

Not sure if your activity item is manual or regular? Tap the entry and look for Manual Entry on the details page. This indicates that it was created by you as a bookkeeping record.

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The information on this website is not intended to provide, and should not be relied on, for tax advice.

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