I have been using this app since last September and overall really like it. But I just realized today that the system does not truly allow me to designate that a category is an "Income" category versus an "Expense" category. As an accountant myself, I am used to preparing income statements wherein the Revenue/Income Categories are grouped and separated for reporting purposes from the Expense Categories. In the current version of the app, if I record a returned item as a positive inflow of money to a category like "Home Improvements", the system reports this as "Income" on the Bar graph and Pie Charts. I don't think this should be viewed as income but simply a positive (reduction in) expense. When I look at my "Income" on the reports in iComptaMobile, I think it should only present the net transactions in Income type accounts. As it is now it is showing not only my normal work related paychecks as income but any returns or credits that I have recorded in other categories show up as income. I hope this explanation makes sense. Do you agree with this or am I missing something here?
I know we need to keep our eye out on your other post about the next release but I think it would encourage your user community to provide some info in regards to your progress - I know it would me If nothing else can you confirm you are still working and advancing the application for an upcoming release?
osubucks wrote:In the current version of the app, if I record a returned item as a positive inflow of money to a category like "Home Improvements", the system reports this as "Income" on the Bar graph and Pie Charts. I don't think this should be viewed as income but simply a positive (reduction in) expense.
You just have to mark the transaction as a refund (in the statistics section of the right panel) in order to achieve that.
osubucks wrote:When I look at my "Income" on the reports in iComptaMobile, I think it should only present the net transactions in Income type accounts. As it is now it is showing not only my normal work related paychecks as income but any returns or credits that I have recorded in other categories show up as income.
You won't have wrong categories in the reports anymore if you mark those transactions as suggested above.
osubucks wrote:If nothing else can you confirm you are still working and advancing the application for an upcoming release?
I am spending days and nights on the next release and I don't post many infos on the progress simply because I don't have any time left and I prefer spending my whole time on the next release.
Thank you so much for your response. I am not sure how I managed to overlook that feature. I have made the adjustments to all of my past refunds and everything is reporting correctly now.
Also, thank you for the comment regarding your continued efforts to complete the development on the upcoming version. I am really looking forward to it!
If nothing else can you confirm you are still working and advancing the application for an upcoming release?