After adding your bank and credit card accounts, you can now add different types of transactions for your accounts. You can make deposits and withdrawals, receive invoice payments, or pay bills directly in the bank register, and easier reconciliation, all in SQUAVA. This article will give you a walkthrough on all the transaction types you can make and how to add or interact with them. 
 

Step-by-Step Guide:

1. Transaction overview

   
   
   Bank and credit card registers keep a record of transactions that go in and out of your accounts. These transactions can be added by you, or can be imported or synced from a financial institution. To learn more about transaction import and transaction synchronization from a financial institution, see (insert link on Import transactions and Linking bank or credit card to financial institution). 

   Interact with transactions - You can edit and make quick changes to a transaction by using the quick links.
   
   
   
   a. Edit entire transaction - You can edit a transaction just by clicking anywhere in the transaction row, and the fields will be available to be filled or changed. You can cancel or save the changes you made, and also delete that transaction.
   
   
   
   b. Quick links - Each transaction has 3 quick add icons placed in the middle of the transaction row. These 3 icons could be interchanged depending on the use of these icons. Here are the three icons and their functions:

   Plus Icon - allows you to quickly add an Invoice Payment, Bill Payment, or Transfer to a specific transaction. Clicking this icon opens a window where you can choose the type of transaction to apply. This functions as an edit to the existing transaction—any

   Notes - click the notes icon to add notes. The note window is expandable by dragging from the bottom edge. Notes are different from memos—memos appear directly in the transaction row, while notes require clicking the icon to view or edit.

   Define the details - a transaction will have available fields for editing. Listed below are the fields you can change or edit in a transaction.

   
   
   
   Date -Displays the date of each transaction in your transaction list.

   Payee/Payor - Shows the Payee or Payor involved in the transaction. This can be a vendor or a client. To add a new Payee/Payor, click on the transaction row, then click the Payee/Payor field and select the +New Payee/Payor button. Choose whether the Payee/Payor is a vendor or a client.

   Memo - Displays the text entered in the memo field within the transaction. This helps clarify the purpose or details of the transaction. While similar to notes, memos are shown directly in the transaction row, whereas notes require clicking the Notes icon to view. You can add a memo when creating the transaction or by clicking anywhere in the transaction row and filling in the memo field.

   Check - Displays the check number entered in the transaction. You can input the check number during transaction creation or edit it later by clicking anywhere in the transaction row and entering the number in the Check No. field.

   Account - Indicates the account affected by the transaction. This may be another bank or credit card account, or an account from your chart of accounts. If the account field is empty, the transaction is unassigned, and a red warning will appear in this column.

   Amount - this column displays the amount in each transaction of your selected bank. It could be a negative or positive amount depending on the nature of the transaction.

   Balance - Shows the running balance after each transaction, reflecting how the bank or credit card balance is affected. It is calculated as the prior balance plus the current transaction amount. Transactions are listed in descending chronological order, so the running balance at the top matches the Bank Balance displayed above.
    

2. Bank Deposits and Withdrawals

   
   
   A deposit is money added to a bank account, while a withdrawal is money taken out. These transaction types are available only in bank accounts and cannot be performed in credit card accounts. Below are the steps to add, edit, and delete bank deposits and withdrawals.
   
   Add
   
   a. Click the New button placed below the bank selector.

   b. A dropdown list of transaction types will be displayed, where you can select either Withdrawal or Deposit depending on the nature of the transaction.
   
   

   c.  Fill in the deposit or withdrawal details. The amount you enter determines the transaction type: a positive amount indicates a deposit, while a negative amount indicates a withdrawal.

   
   Edit - You can edit a transaction just by clicking anywhere on the transaction row, and the fields will be available to be filled or changed. You can cancel or save the changes you made, and also delete that transaction.
   
   
   
   Delete - Deleting a transaction will remove its record from your financial report and also from your transactions list. There are two ways to delete a transaction: deleting a single transaction or using bulk delete.
   
   a. Delete single transactions -To delete a single transaction, click anywhere on the transaction row, then click the trash icon to remove it.
   
   
   
   b. Bulk delete - Bulk action allows you to make changes to multiple transactions at the same time. In this case, it allows you to delete multiple or all transactions simultaneously. You can do so by clicking multiple checkboxes at the far left side of the transactions list or simply clicking the top checkbox to select all transactions. When you have chosen the transactions you want to bulk edit, select the Actions button and choose Delete.
    

3. Bank and credit card transfer

   
   
   A bank transfer is the movement of funds from one account to another. In SQUAVA, you can add transfers between bank accounts, credit card accounts, or a combination of both. Below are the steps to add, edit, and delete a bank or credit card transfer.
   
   Add
   a. Click the New button placed below the bank selector.

   b. A dropdown list of transaction types will appear, where you can select Transfer to initiate a bank or credit card transfer.

   c. Fill in the transfer details. Choose the bank account you want to transfer the money from and to. In the example below, the transfer is from Bank 1 to the account of your choice. This transfer will create two transactions, one for each bank.

   
   
   
   In Bank 1, a bank transfer of -$6,000 will be added. 
   
   
   
   While on  Bank 2, the bank transfer of $6,000 will be added.
    

4. Credit card charges and payments

   
   
   Credit card charges and payments typically include recurring fees such as annual charges, interest, late payment penalties, foreign transaction fees, and more. In SQUAVA, you can record these payments to ensure all transactions are accurately tracked in your records. To add, edit, or delete credit card charges and payments, follow the steps below:
   
   Add
   
   a. Click the New button placed below the bank selector.

   b. A dropdown list of transactions will be displayed, and there you can select Charge or Payment

   c. Fill in the transaction details. Hit save.
    

5. Receive or connect invoice payment

   
   
   Once you've created an invoice, it will appear on the Accounts Receivable page, where you can edit the invoice or record a payment. Alternatively, you can use the Bank Register to access your bank account directly and receive or link the invoice payment from there.
   
   Add
   
   a. Select the bank account you want to receive payment from. You can do so by clicking on the bank selector and selecting the bank account.

   b. Click the New button located below the bank selector

   c. Click Invoice Payment - after clicking the Invoice Payment, a pop-up window for outstanding invoices will appear. There, you can choose payment options and search or sort invoices.

   Note: The number beside the invoice payment indicates how many outstanding invoices you have. In the example above, the number of outstanding invoices is 52.

   
   
   
   Search for Invoice - you can search for the invoice number or invoice amount in the search bar located at the top left corner of the pop-up screen.

   Group options - you can pay a single or multiple invoices.

   Single - Create a single bank transaction grouping all payments selected on a designated date.

   Multiple - Create multiple bank transactions, one for each payment selected, using the payment date or today's date if a payment has not yet been applied.

   Checkbox - you can select multiple or all invoices by clicking on the checkboxes at the far left side of each invoice. Clicking the top checkbox will select all invoices.

   Sort invoices - you can sort the invoices by Type, No., Project, Client, Status, and Outstanding. Just click the headers, and it will be arranged in ascending or descending order.

   Full or partial payment - you can pay each invoice in full or partial. Select an invoice, insert the payment amount, then hit save.

   
   
   To edit the invoice payment, click on the icon in the middle of a transaction row. This will take you to the invoice payment options pop-up window, where you can change your payment details. You can remove the invoice payment, add another invoice payment, or change your payment amount. 
    

   
   
   Deleting an invoice payment transaction will make you choose between two options:

   Delete Bank Transaction Only – This action removes the transaction from your bank register but does not affect the invoice status. For example, if you delete a $40 invoice payment transaction, it will no longer appear in your bank account, but the invoice will still show as paid.

   Delete Bank Transaction and Connected Invoice Payment – This method is preferred when you want to fully reverse a payment. It deletes both the bank transaction and the associated invoice payment. For example, removing a $40 invoice payment transaction will erase it from your bank register and mark the invoice as outstanding again.
   
   Just like other transactions, invoices can be deleted in two ways:

   • Single Delete – Remove an individual invoice by clicking into the transaction and selecting the trash icon.

   • Bulk Delete – Select multiple invoices and delete them all at once using the bulk delete option.

    

6. Pay or connect bills payment

   
   
   Once you've created a bill, it will appear on the Accounts Payable page, where you can edit the bill or record a payment. Alternatively, you can use the Bank Register to go directly to your bank or credit card account and pay, or link the bill payment from there.

   a. Select the bank account you want to pay the bill from. You can do so by clicking on the bank selector and selecting the bank account.

   b. Click the New button located below the bank selector.

   Note: The number beside the bill payment indicates how many outstanding bills you have. In the example above, the number of outstanding bills is-45

   c. Click Bill Payment - after clicking Bill Payment, a pop-up window for outstanding bills will appear. There, you can choose payment options and search or sort bills.

   
   
   
   Search for Bill - you can search for the bill number or bill amount in the search bar located at the top left corner of the pop-up screen.

   Group options - you can pay a single or multiple bills. 

   Single - Create a single bank transaction grouping all payments selected on a designated date.

   Multiple - Create multiple bank transactions, one for each payment selected, using the payment date or today's date if a payment has not yet been applied.

   Checkbox - you can select multiple or all invoices by clicking on the checkboxes at the far left side of each bill. Clicking the top checkbox will select all bills.

   Sort bills - you can sort the bills by Type, No., Project, Client, Status, and Outstanding. Just click the headers, and it will be arranged in ascending or descending order.

   Full or partial payment - you can pay each bill in full or partial. Select a bill, insert the payment amount, then hit save.

   
   
   
   To edit the bill payment, click on the icon in the middle of a transaction row. This will take you to the bill payment options pop-up window, where you can change your payment details. You can remove the bill payment, add another bill payment, or change your payment amount.

    

SUCCESS!!! 

• Now we’re done learning how to add, edit, and delete Bank or Credit Card Transactions. Next, you will need to learn about the different pending actions in importing transactions from a financial institution.
• Check out the Help Article: Approve transaction from financial institution