You can record expenditure and revenue entries through our simplified entry interface, which guides you step by step to prevent any accounting inconsistencies. This article covers the following topics:
- Enter an expenditure / revenue transaction
- Add additional information to an entry
- Special entry cases
👉 Download our accounting user guide on Springly (9 pages)
Enter an expenditure / revenue transaction
Access the entry interface
Go to Accounting > Entry > Enter a new expenditure (or revenue). You'll land on a form page with several fields to fill in.
The idea is straightforward: you enter the details of the transaction, and the software generates the entry for you.
Basic information to fill in
The information needed to generate the entry includes:
- Transaction date (1): the date the entry is recorded, which will be tied to the relevant accounting period. You can enter transactions for a given period as long as it hasn't been closed;
- Label (2): the name given to your entry, used to describe it;
- Accounting account (or category) (3): the account associated with the entry, depending on its nature.
- Amount (4): the total amount of the revenue (or expenditure).
The available accounts are class 7 for revenues and class 6 (and 2) for expenditures. You can now enter multiple accounts (of the same type) in a single entry by clicking the New entry button. For more complex entries, you can use the journal book entry feature.
- Payment method (5): determines the class 5 account linked to the entry: 512 for payments received directly into a bank account, 511200 for a check, 531 for cash;
- Linked account (6): the software needs to know the associated bank account in order to generate entries. This can be the bank account (for bank payments such as card, wire transfer, etc.) or the petty cash account (for cash).
Understanding the generated entry
Once created, you can find the entry under Accounting > Search, filtering by date, amount, or accounting account. You'll see four lines, which can be grouped into two categories:
- One for the accrual (1), the amount a third party has committed to pay in exchange for the transaction;
- One for the payment (2), which may be fully or partially settled at the time of the transaction.
Clicking the detail icon (eye) opens the group of your accounting records. From there, you can also edit the entered information.
The accrual entry (revenue in this example) affects:
- The selected class 7 account, since revenue is being recorded;
- A class 4 account, based on the type of third party, reflecting their commitment to pay the amount.
The payment entry (if payment has already been entered) involves the following accounts:
- The same class 4 account, indicating that the accrual has been fully or partially settled.
- A class 5 account corresponding to the payment method (check, card, cash, etc.).
Add additional information to an entry
You can add optional information to link more details to the entry.
Attach an invoice
You can attach an invoice if needed. This keeps a digital record of your invoice — a handy way to quickly identify the source of an expenditure or revenue.
The invoice upload area is at the top of the page, next to the "Transaction date" and "Label" fields. Drag a file from your computer into the box, or click "Choose a file" to browse files saved on your computer.
Attaching an invoice is not required. However, you can make it mandatory to prevent anyone — yourself or other administrators — from forgetting. To do this, go to Settings > Accounting and enable "Required invoices" (under Advanced Settings).
Link the entry to a person
This links a third party to the entry, which allows you to:
- Filter entries by member across many pages, including the search module;
- View entries by third-party sub-account in the user General Ledger.
By default, only people in your community are shown. You can link an entry to an account receivable or account payable if subsidiary accounting is enabled under Settings > Accounting. To link an entry to a person, they must first be added to your Community.
Enter a custom number
When a book entry is saved, the software automatically generates a unique identifier for it, making each entry easy to retrieve.
However, if you use a separate identification system outside the software, the "Custom number" feature lets you assign your own identifiers to each book entry, making them easier to find and cross-reference.
To enable this option, go to Settings > Accounting, then to the Advanced Settings section.
Check "Custom accounting record numbers" (toggle at the end of the row).
Then go back to the entry module. The field for entering a custom number is located below the label. This field is optional and does not need to be filled in when creating an entry.
This number appears in the following accounting documents (including exports): Expenditures-Revenues, Journal, General Ledger.
You can add or update a number at any time by editing an entry.
Add a note
While entering data, you may want to add notes to one or more entries. Use the Free notes field to do so.
Special entry cases
Deferred payment
If the entry is only partially settled — or not settled at all — at the time of the transaction, you can indicate a deferred payment. You can pre-enter one or more payments scheduled for a future date.
When a revenue or expenditure is not fully settled, it becomes a liability or a receivable, which you can manage from the liabilities/receivables tracking page.
Adding VAT
If your nonprofit is subject to VAT, you can enter it here. You'll first need to enable it under Settings > Accounting for the option to appear during entry. Several common rates are pre-configured:
For more information, see our dedicated article: VAT in Springly
Deposit payment
The software does not support recording a payment before its associated revenue or expenditure entry. You'll need to create an accrual entry on the date of the deposit. You can enter:
- An expenditure/revenue entry (along with the associated payment) when the deposit is made;
- A second accrual entry on the date the remaining balance is paid.
The second expenditure/revenue entry can be grouped with the one recorded for the deposit. You'll need to group the entries before recording the payments.
You'll then be able to point the entries on the dates of your cash flows during bank reconciliation.
Recurring / installment payments
If a payment is recurring, you can select the "Installment payments" payment method and, in addition to the bank account, specify:
- The number of installments;
- Their frequency (every X months).
This will create a single accrual entry and as many payment entries as specified in the number of installments field.
You can find the installment due dates in your liabilities and receivables. To mark an installment as paid:
- Go to Entry > Track your liabilities & receivables (for example);
- Click the eye icon (Detail) for the relevant entry;
- On the payment entry for the paid installment, click Edit;
- Uncheck "Deferred payment" (1) and enter the affected bank account (2);
- Save (3).
The payment will then be marked as completed. Repeat this process for each installment.
Go further:
Comments
0 comments
Article is closed for comments.