Net profit should be Income - Expenses, but I am not getting it right.
Also, the cash at bank shows a wrong value. Please help.
There may be a problem with the Indian currency, go to settings and change the base to nothing or another currency and see if the problem remains. I am sure it becuase of the numbering style of your currency
No it is not the problem with Indian currency , look to be some accounting issue, the expenses cannot be in negative, it has to be a positive value
The problem is with “Receive money”
All the bank statement entries have been imported as “Receive money”. How do I convert expenses as “Spend money”?
So check the accounting behind those balances am sure it will work after
What bank format did you use to import your bank statement?
.csv
Look inside that CSV file. Can you confirm negative amounts in CSV represent money spent and positive amounts money received? Maybe your CSV file had amounts the other way around.
I just have the following columns: Date, Payee, Reference, Description, Amount.
No negative signs anywhere.
Then all those transactions in CSV will be imported as “Receive money” transactions.
Oh. Then, how do I make sure expense come as “Spend” and income come as “Receive”?
Thank you for your help!
Where did you obtain CSV file from? If it’s from bank, then complain to them or switch to different bank. Their CSV export is not correct.