Choose a direction
Income records money coming in. Expense records money going out. Add the amount, date, and a recognizable description.
CHAPTER 04 OF 06 / Money basics
Know where you stand.
Record income and spending and understand what your overview is showing.
FIRST, A LITTLE PERSPECTIVE
A short film.
A clearer start.
Prefer to read the film? +
Let's turn a few entries into a clearer picture. In Activity, choose income or expense. Add the amount, the date, and a description you'll recognize later. Say you record twenty-four hundred dollars coming in, then a hundred and sixty going out. The difference is your recorded net cash flow. Your overview uses your latest five hundred entries. It isn't a live bank balance, and it only knows what you've entered. Try the example next. You'll see exactly how money in and money out change the picture.
Watching is optional. Learning is yours.
THE IDEA, IN A FEW WORDS
Understand the space between in and out.
A useful overview starts with useful entries. Record the details today so they’ll still make sense later.
Read the difference
Recorded income minus recorded expenses gives recorded net cash flow. Positive means the included income is greater than the included expenses.
Know the boundary
The overview uses your latest 500 entries. Missing entries change the picture. This is not a live bank balance or a bank connection.
A SMALL MOMENT TO TRY IT
Change the picture.
This example has $2,400 of recorded income. Adjust expenses to see the difference change.
RECORDED CASH FLOWEXAMPLE
Recorded net cash flow
$0$3,200
Income is greater than expenses in this example.
This is a learning example. Nothing is saved to your financial workspace.
ONE THING TO TAKE WITH YOU
Your overview reflects what you record. A complete picture needs current entries.
Add one income or expense with an amount, date, and description you’ll recognize.
CHAPTER 04 / MONEY BASICS
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FORTESAN / THE FIELD GUIDEPAGE 1 OF 4