Accounts are where you keep track of what you owe, what you own, and money you spend and receive. You probably already think of your business checking account as a bank "account" but in WorkingPoint, you use other accounts to keep track of other things, like what you owe and what is owed to you or what you spend your money on.
Whenever you record money you’ve received or spent, WorkingPoint posts the entries to the associated accounts. For example, when you purchase office supplies using your checking account, the money you spent is moved from your checking account to your office supplies account you use to track expenses for your office supplies.
There are accounts that keep track of:
Amounts your customers owe you (you’ve invoiced customers)
Amounts you owe to vendors
Credits due to your customers
PayPal payments and merchant fees
Amounts you owe on credit cards or loans
Your expenses (what you are spending your money on)
Your income (where the money is coming from)
Value of your inventory
How much it costs to sell your goods (Cost of Sales)
Your WorkingPoint account comes with a predefined set of commonly-used accounts to get you started. Each account you have has its own Account Activity List that shows all the money coming in and going out of the account.
How do I create an account?
How do I delete an account?
How do I edit an account?
How do I export the Accounts List?
How do I make an account inactive?
How do I open the Accounts List?