Transactions

Transactions are the heart of Finerdy. Every money movement is recorded as a transaction.

Transaction types

Finerdy has 5 types of transactions, each with a specific purpose:

Type Description Affects balance
Income Money entering an account +
Expense Money leaving an account -
Transfer Moving money between accounts of the same currency +/-
Exchange Converting money between accounts of different currencies +/-
Correction Manual balance adjustment +/-

Income

Income

An income represents money entering an account.

When to use it

  • You receive your salary
  • You get paid for freelance work
  • You sell something
  • You receive a refund
  • Investment returns

Fields

  • Account - Where the money goes
  • Amount - How much you received
  • Category - Type of income (Salary, Sales, etc.)
  • Description - Optional details
  • Date - When it happened

Example

Type: Income
Account: Chase Bank (USD)
Amount: 2,500.00 USD
Category: Salary
Description: January 2025 paycheck
Date: 2025-01-05

Expense

Expense

An expense represents money leaving an account.

When to use it

  • You buy something
  • You pay for a service
  • You pay taxes
  • Any money outflow

Fields

  • Account - Where the money comes from
  • Amount - How much you spent
  • Category - Type of expense (Groceries, Utilities, etc.)
  • Description - Optional details
  • Date - When it happened
  • Budget - Optional, to track against a budget

Example

Type: Expense
Account: Credit Card (USD)
Amount: 150.00 USD
Category: Groceries
Description: Weekly shopping
Date: 2025-01-10

Transfer

Transfer

A transfer moves money between two accounts of the same currency.

When to use it

  • You move money from checking to savings
  • You transfer cash to a digital wallet
  • Any internal movement without currency change

How it works

A transfer creates two linked transactions: 1. A negative transaction in the source account 2. A positive transaction in the destination account

Fields

  • Source account - Where the money comes from
  • Destination account - Where the money goes (same currency)
  • Amount - How much you're transferring
  • Description - Optional details
  • Date - When it happened

Example

Type: Transfer
Source account: Chase Bank (USD)
Destination account: Wise (USD)
Amount: 500.00 USD
Description: Fund Wise
Date: 2025-01-15

Result:
  - Chase Bank: -500 USD
  - Wise: +500 USD

Important

  • Both accounts must have the same currency.
  • If currencies are different, use an Exchange instead of a transfer.

Currency exchange

Exchange

An exchange converts money from one currency to another.

When to use it

  • You buy dollars with pesos
  • You sell euros to get dollars
  • Any conversion between currencies

How it works

An exchange creates two linked transactions: 1. A negative transaction in the source account (currency A) 2. A positive transaction in the destination account (currency B)

It also records the exchange difference if your actual rate differs from the market rate.

Fields

  • Source account - Where the money comes from
  • Source amount - How much you're selling
  • Destination account - Where the money goes (different currency)
  • Destination amount - How much you receive
  • Description - Optional details
  • Date - When it happened

Example

Type: Exchange
Source account: Cash ARS
Source amount: 100,000.00 ARS
Destination account: Cash USD
Destination amount: 105.00 USD
Description: Blue dollar purchase
Date: 2025-01-20

Implied exchange rate: 952.38 ARS/USD

Result:
  - Cash ARS: -100,000 ARS
  - Cash USD: +105 USD

Exchange difference

If the exchange rate you got is better or worse than the market rate, Finerdy calculates the exchange difference:

  • Gain: You got more than expected
  • Loss: You got less than expected

This difference appears in your reports.

Correction

Correction

A correction adjusts an account's balance when there's a difference with reality.

When to use it

  • You find a difference between Finerdy's balance and the real one
  • You need to adjust for an error
  • Initial balance for an account

Fields

  • Account - The account to adjust
  • Amount - The actual current balance (Finerdy calculates the difference)
  • Description - Reason for the adjustment
  • Date - When to apply it

Example

Type: Correction
Account: Cash (USD)
Current balance: 450.00 USD
Description: Monthly cash count
Date: 2025-01-25

Important

  • Corrections don't have a category.
  • They don't affect income/expense reports.
  • They create a checkpoint that locks previous transactions.

For more details about corrections and checkpoints, see the dedicated page: Corrections and Checkpoints.

Common fields

All transactions have these fields:

Field Description
Date When the transaction occurred
Description Free text for details
Tags Custom labels to organize your transactions
Attachments You can attach receipts (images, PDFs)
Created by User who recorded the transaction

Tags

Tags allow you to organize and filter your transactions with custom labels.

How to use them

  • Type the tag name in the tags field
  • Finerdy suggests existing tags as you type
  • If the tag doesn't exist, it's created automatically
  • You can add multiple tags to a transaction

Usage examples

  • vacation - For expenses from a specific trip
  • work - To separate work expenses from personal ones
  • pending - To mark transactions that need review
  • monthly - For recurring expenses
  • home-project - For expenses from a specific project

Filter by tags

In the transactions list, you can filter by one or more tags to see only transactions that contain them.

Example

Type: Expense
Account: Credit Card (USD)
Amount: 500.00 USD
Category: Travel
Description: Miami hotel
Tags: vacation, miami-2025
Date: 2025-03-15

Next steps

Now that you understand transaction types, learn about Reports to analyze your finances.