Dealing with cash transactions
If you frequently use cash to pay for things, you may want to create a cash account in PocketSmith to track these transactions.
In this user guide
Steps to create a cash account
Head to the Accounts menu and select
- Click New offline account in the toolbar, and select Cash account
Enter a name and choose a currency for the cash account. Add an opening balance, then click
Save and continue
You can now manually add cash transactions. Enter any transactions details you'd like to add straight away and click
Save all transactions to continue
You now have a new cash account to record your cash transactions in PocketSmith
Adding transactions to cash accounts
Setting up a cash withdrawal as a transfer
When you withdraw cash from one of your bank accounts, this transaction in PocketSmith should be set up as a transfer to your cash account. This means that you will then need to create a manual transaction in the cash account to the value of the amount of cash you withdrew from your bank account, and assign both transactions to the same transfer category.
For example, if your bank statement has a transaction - ATM Withdrawal ($20.00) - then you need to enter another transaction - Cash deposit, $20.00 - into your cash account. Both the ATM withdrawal and the cash deposit would be assigned to the same Cash withdrawal transfer category, which was previously created.
Learn more about transfer categories and assigning transactions to them here: Setting up transfer categories in PocketSmith
Creating expense transactions to reflect your cash spending
You'll then be able to add transactions to your cash account using the manual input option to reflect your cash spending. As such, the amount of money you have in your wallet should equal the balance of your cash account.
For detail on how to do add manual transactions, check out: Manually adding transactions to an account
Adding cash transactions & cash accounts on our mobile apps
You can add cash transactions and set up cash accounts via our mobile apps too! Learn more about how to do this in our following user guides:
- PocketSmith iOS app (cash transactions and accounts)
- PocketSmith Android app (cash transactions and accounts)
How do I change an existing manual cash account to a cash type account?
On January 2018 we added a "Cash" account option to the account types you could add in PocketSmith. If you created a manual cash account before January 28, 2018, you can change the account type so that PocketSmith knows that this is a Cash account, as outlined here: Edit the details of your account