Definition of a transaction

Definition of a transaction

Any change in money is a transaction. Money decreases, increases, moves, or all changes are trading. Transactions contain information about changes, i.e. when, where, how, why, and how much. If you keep track of these transactions, you are writing a household account book.

When to enter the transaction

If you go into a little more detail, you may be concerned about when to recognize changes in money. For example, if you sign a contract with someone, would a deal happen at the moment? Or does it have to be deposited in the bankbook? The criterion for dividing this is that accounting says accrualism and cashism.

Accurrenceism sees the moment when a contract for money occurs as the time to enter the transaction. Even if there is no money in the bankbook the moment you sign a contract with someone, you have already registered your assets as receivables, and you believe that you have generated profits. This way, you can check the balance of these accounts receivable and prompt you if there is no money in your account in the future. If deposits are made to the bankbook later, it is treated as a transaction in which money is transferred from accounts receivable to the bankbook without generating additional profit.

Cashism, on the other hand, is actually based on a situation where money comes into the bankbook-something real movement. In general, it is based on this cash principle. It is recorded only when money comes into the bankbook. Cashism is intuitive and convenient, but these days when payment methods and flows are complex, there is a lot of room for omissions.

In whooing, it is recommended to write a little more thoroughly based on accrualism, but you can use it as a cash note as you like. Or you can just mix them both and record it as accrual, sometimes cash.

The scope of the transaction

If I had to pay at the mart after shopping, would this be a transaction? Or was it just paying for multiple transactions at once? It is often unclear whether a transaction is a payment unit, a point of purchase, or an item of all the items you buy.

There is no correct answer to this. Just as you create criteria for categorization of items, you can divide them by the unit you want to understand (or search). If you break it down too finely, it's cumbersome to manage, and if it's too clunky to catch it comprehensively, you won't be able to get the details later.

Whooing recommends setting the range based on payment units. For example, when payment is made at a mart, the transaction is viewed as a transaction and entered as one transaction. However, if too much information is lumped together in this transaction, then you can enter each detailed transaction (based on cost items) and enter it. Conversely, if you had two payments and one payback for a reservation, you can add and subtract them all and treat only the final amount as a single transaction.

Transaction input

When a transaction occurs in real life, you have to enter this into whooing. Whenever a transaction occurs, you can connect to the mobile and enter it, you can enter the number of days before going to sleep, or you can collect and enter payment texts once a week like me.

The important point is to type steadily and without omissions. If something goes wrong, you can still correct it later, but if it's missing or interrupted, it's a bit more difficult to revive.