Setting up income and expense categories

Setting up income and expense categories

To ensure accurate financial tracking, you must first define your source and destination categories.

1. Navigate to the "Financial Management" tab in the Admin Panel.

2. Go to "Categories" or "Chart of Accounts".

3. Click "Add New Category" and select whether it is an Income category (e.g., Tuition, Donations) or an Expense category (e.g., Utilities, Staff Salaries).

4. Define the name and description.

5. Click Save. These categories will be used when logging all transactions.