Hello,
On my business account I have a tansacation account and a Saver account. Sometimes I have put some money in th esaver account and after a while I tansfer this moner in the transactions account. I dont know how to classify this transactions as this money belongs to the same business account.
Thank you
Hi Margarita,
Thanks for your post, and welcome to the MYOB Community Forum.
So, when you're moving money between your business accounts, you can think of it like sorting your money into different buckets using your Chart of Accounts. This chart is like a map that connects your everyday business activities to five accounting categories – assets, liabilities, equity, income, and expenses. When you sort a transaction to a Chart of Accounts code, it's like putting it into the right bucket.
But remember, every business is unique, so it's always a good idea to speak with your accountant to make sure you're sorting your money in a way that works best for your specific situation.
Feel free to post again anytime if you require further assistance.
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Best regards,
Doreen
