Topics
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- Register as a User
- Reset your Password
- Create a Bank Account / Asset
- Share an Account with a Friend
- Reconcile an Account
- Adjust the Balance of an Account
- Attach an Invioce for a Transaction
- See more information for a Transaction
- Set up an Investment
- Add a Category / Beneficiary / Investment / Payee
- Add a Subcategory
Payees vs Beneficiaries (Spent On)
Most fields are self explanatory, but these two may need some clarification.
You can use each as you see fit, or not use them at all, but to ensure compatibility with any Friends, it’s best to be consistent.
- A Payee is the other party with which the transaction is made.
- A Beneficiary (Spent On) is the person or group that benefits from the good or service.
For example, if you bought a toy for your son Billy, the toy store is the Payee and Billy is the Beneficiary.
