Adding transaction period and advance payment in the Finmap service

When you create transactions manually, you can see two date fields: the “transaction date” and the “sale date”. In the “salary” and “taxes” categories, you can find the “Payment date” and “Payment period” fields.

The payment date represents the actual funds’ expense, the current employee’s salary. 

The period is the time frame during which we paid the salary. Typically, this is the previous month, but in the case of project work, the payment period may be a couple of weeks or days. 

We can manually specify the period using the “Set period” button.

We include expenses in the “Profit” report based on the payment period.

If you need to create your category and can specify the payment period, we recommend doing the following:

1) Create an expense transaction and click “Make recurrent”

Choose the repetition interval from the proposed options or click “Other” and specify the interval manually.

In this example, we are paying for a one-year subscription to the service:

The service generates one actual payment and 11 future payments monthly on the tenth day:

We check the box next to each future transaction and click “Change data”:

We change the payment date to the date of payment of the whole amount:

The transactions have become actual:

In this case, the Profit report shows the total amount divided by month. We have achieved the desired result!

And the payment date of the total amount appears only in April in the Money report.

The algorithm allows you to enter the transaction date and client prepayment in the Finmap service. 

We receive income from the prepayment, but you will provide services for the next three months.

We create an income operation with the actual receipt date and click on “Make recurrent”:

We split the operation into three months of service provision:

We change the payment date to the current date:

Done! You received the prepayment amount in December, and we can see it in the “Money” report:

In the “Profit” report, we divided the amount by the months in which we will provide services for the received prepayment: