I have two bank accounts. Let us name my first bank account as “A” and second bank account as “B” for easy understanding of my example. In this example, I have earned Rs. 100.00 and deposited in Bank A.
After uploading statement for Bank A, following situation arises.
- Bank A - Rs. 100.00 (Summary Income = Rs. 100.00)
- Bank A - Rs. 100.00 withdrawn in cash (Summary Expense = Rs. 100.00) (Net profit = Rs. 00.00)
Statement uploaded for Bank B;
- Bank B - Rs. 100.00 cash deposited (Summary Income = Rs. 200.00)
- Cash & Equivalents - Rs. 100.00
But, my actual income is Rs. 100.00 only. So my query is, to over come this problem of double income, can is create a new total separately which would not reflect in income. We can name the new total as “Internal Transfers” for example. It would be easy for bifurcation for money transferred within accounts.