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Overview
This article is to help users who were using the prior module "Easy Expense & Income" to understand the changes when using its replacement module, "Easy Cashflow".
Easy Expense & Income has now been replaced by Easy Cashflow.
The ability to create manual Expense and Income items remains in Easy Cashflow.
We'll break down the main changes you'll see below.
Where are my existing expense and income items? You'll find these in the Ins and Outs menu within the new Easy Cashflow module.
Creating Expense and Income items
1. Paid From/To field
This new field is mandatory whenever creating expense or income items. You must now say where the money has been paid from/to. When you link a bank account in Easy Cashflow, it will automatically appear here. You will also see default options for Bank Account, Credit Card and Cash for non-linked options.
Migration note: we have migrated all your existing expenses to the Bank Account (Default) category. If you link up your bank account in Easy Cashflow and wish to match the bank transactions to the expense/income record (now called an "Out" or "In") you do not need to change the Paid From/To field first. Simply link your account, import transactions, match and you're done. Easy Cashflow finds matches across all accounts. If you have a large number of expense or income items and would like some help, please reach out to our support team who will be happy to help!
2. GST toggle
The GST toggle has been replaced by the GST drop-down, this enables Easy Business App to support GST reporting much more accurately. GST options are now:
- GST on Expenses (10%) / GST on Income (10%) - for items that attract GST
- GST Free Expenses (0%) / GST Free Income (0%) - for items that are GST-free (e.g. certain fresh unprepared food, bank fees, certain education expenses)
- N/A - for items that are not relevant for GST and are excluded from BAS/IAS reporting (tax payments, ATO fines, super payments, wages)
3. Business Use %
This field has been replaced with a more flexible mechanism. Expense/Income items now support multiple line items. When you need to assign some of the expense to the business, but some to personal, you can click the Assign to Personal button (see no. 5 below).
Based on feedback from our users, you also now do this based on the amount and not a percentage.
Migration note: we have migrated any business use % values that were not '100%' to be multiple line items for you. You will now see two line items, one with your original category and the other with an entry to the "Owner/Director Drawings" account. No further action is required.
4. New Categories, Line Items and GST Splitting
We have a broader, more useful range of default Categories. And Expense/Income items now support multiple line items. This means you can split the one expense into two line items, with different GST amounts/treatments for each. You can also create your own categories to customise to the specific categories you need for your business. Because we have nearly doubled the number of available categories, you now have more flexibility by default too. And you can type to search in the Category field on all platforms to quickly find what you need.
Migration note: we have migrated your existing document categories from the old list to the new list for you. We built our new categories list (also known as a "chart of accounts") to expand on the existing one. You might notice that some category names have slightly changed (for example, 'Invoice Income' is now 'Sales Income', and 'Banking Charges' is now 'Bank Fees & Charges'). No further action is required.
5. Split to Multiple / Assign Personal
As mentioned above, Ins and Outs support multiple line items. Click the Split to multiple button to split one transaction into multiple different line items. You can create a split transaction with up to 50 line items.
The Assign to Personal button replaced the old Business Use % (see point 3 above).
Creating/Edit Categories
Our most requested feature in Easy Expense & Income was the ability to create and edit your own custom categories list. We have now added this to Easy Cashflow!
From the Categories screen you can create or edit categories to fit your business requirements.
Hint: it is a very good idea to check the structure of your Categories list (also called a "chart of accounts") with your bookkeeper and/or accountant. While more Categories can give you a higher level of detail with your reporting, there are various accounting considerations to creating a manageable and reportable set. So, while it may be tempting to add 30 new categories... that's often not the best approach.
Reports
The old 'Expense Detail Report' and 'Income Detail Report' have been removed.
These have been replaced with more powerful reporting in Easy Reports > Reports.
The best reports to get a similar view are:
- Category Summary/GL Summary: great to see the sum of transactions across categories
- Category Detail/GL Detail: this shows you line-item level detail, for one (or across all) categories.
Note that the Ins & Outs view now has slightly better filtering functionality too. And all reports have full drill-down.
Frequently Asked Questions (FAQs)
Q: Where are my existing Expense and Income items?
A: You'll find these in the Ins and Outs menu within the new Easy Cashflow module.
Q: Why did you make any changes at all?
A: The two biggest feature requests we've had in the last 12 months have been to introduce bank feeds and to allow customisable categories. The nature of these changes has driven us to move Easy Business App to be a true 'double-entry accounting' application. We have tried our absolute best to minimise disruption by making sensible design and migration decisions, to keep the impact to you low. But a small amount of change is inevitable. We think you'll really like the powerful new features though.
Q: I don't want to pay for Easy Cashflow. Easy Expense & Income was free!
A: You don't have to pay for Easy Cashflow! While we will introduce subscriptions later in the year for the bank feeds element of Easy Cashflow, if you just wish to create manual expense and income items like you did in Easy Expense & Income, you will be able to do so without charge.
Q: Something looks a bit weird in my data. Can you help?
A: If anything looks odd, or you want to double-check something, please reach out to our Sydney-based support team (via phone, email or live chat) and we'll get our technical team to take a look!