Some behind the scenes updates. We migrated the server, but you should not notice any changes. What you will notice is that your password disappeared. We are now using magic links. You put in your email and you get sent a code. 90% of the problems we have had were about passwords. We migrated all the data, so you should not be missing anything. If you are, DM me here on skool. Happy bookkeeping!

For people using bookkeeping buddy it’s worth having a basic understanding of a few concepts. You can let the ai do its magic for you, but if you have questions then learning this little bit can be helpful. Types of transactions that show up in back and credit card statements: Income - someone paid you for a good or service Expense - you paid for a good or service that was consumed. There’s no residual value after using the good or service Transfer - transfer in to the company from a personal account, transfer out from the company to a personal account, or transfer between one company account and another. These are ignored for profit & loss purposes. On bookkeeping buddy you will see them grayed out. Asset and liability payments - these are explicitly not supported by bookkeeping buddy. Generally they will be disregarded as transfers Here’s an example of a bundle of transactions that you might see: Pay phone bill with credit card $150 Receive money from customer $700 Pay the credit card bill $400 Withdraw $50 to personal checking. The $150 is an expense The $700 is income the $400 credit card payment and the $50 withdrawal are both transfers and ignored for p&l purposes Net income: 700 - 150 = 550