Wallets

A wallet is a place money sits: the cash box in the van, the company bank account, a technician's float. Every payment you collect, expense you log or transfer you make lands in one, so Wallets and Transactions under Finance show not only how much came in but where it is now. Wallets are optional — a company that keeps its books elsewhere can leave them alone — and they come with the plans that include the feature.

The wallets list

Wallets groups your wallets into three sections, each shown only when it has something in it: My Wallets (personal wallets you own), Company Wallets (visible to the whole team) and Shared with Me (colleagues' personal wallets you were given access to). Each card shows the name, the current balance and the wallet's type. A deactivated wallet is dimmed and marked Inactive, and still opens. The card marked Stripe is the one described at the end of this article.

Every company starts with a Company Account wallet, and every user with a personal Cash and Bank Account, so there is somewhere to record money on day one.

Wallet types

A type is a label with a colour. Cash, Bank Account and Custom come ready-made; add your own — a savings account, a credit card — under Settings at the top of the list. A type that a wallet uses cannot be deleted, only deactivated, which hides it from the wallet form and leaves the wallets that carry it as they are.

Creating a wallet

New Wallet asks for a Name, a Type and two things about payment methods:

• Payment methods — tick at least one of the methods you set up under Settings → Payments. They are the methods the wallet suggests: when you collect a payment into this wallet, its default is preselected, and any other method can still be recorded.
• Default method — the one preselected when you collect into this wallet, or None to be asked every time.

Administrators also see Company wallet (shared — visible to members who can view payments). Left unticked, the wallet is personal and belongs to you; only you and the people you share it with see it. This choice is made once — a wallet cannot be switched between personal and company later.

Opening balance is optional: the money the wallet already holds. It becomes the wallet's first row, marked Opening balance rather than income, so it never counts as revenue.

Payment methods when collecting a payment

When you record a payment on an invoice, the Received into field lists your wallets, plus Don't deposit to a wallet for money you track elsewhere. Choosing a wallet preselects its default method (or its only one); the Payment Method field stays on screen and any method can be picked. The wallet's balance goes up by the amount and the payment shows in its transactions as income.

Income, expenses and transfers

A wallet's page shows its Balance, three buttons and the last fifty transactions; the full, filterable history is under Transactions. Rows are numbered INC-, EXP- and TRF- and show the balance after each one; a number is never reused, even after its record is deleted. Click a row for its details and attachments — income rows and pending transfers can be edited there, and a row can be deleted, which reverses its effect on the balance.

• Add Income — money that arrived outside an invoice: a float top-up, a cash injection, interest. Amount, date, a description and optional attachments.
• Add Expense — opens the usual expense form with this wallet filled in as From. Expense rows are edited from Expenses, and the wallet row follows. Deleting an expense that was paid from a wallet keeps its row in the history and adds a Reversal of deleted expense EXP-… row that puts the money back. Both rows stay as a record: they cannot be edited or deleted. An expense created by a payroll payout or an approved mileage report belongs to that pay run or report: its amount, date, category and Reimbursable box (and, for payroll, the wallet) are read-only, it cannot be deleted, and a note at the top of the form links to where it came from. A mileage expense still takes a wallet and Reimbursed — that is how the driver gets paid.
• Transfer — moves money from one wallet to another, see below.

An inactive wallet accepts no new transactions; reactivate it first.

Transfers and approval

A transfer needs a From wallet you may transact on — your own, a company one, or one shared with you at View & Transact — a To wallet, which can be any active wallet in the company including a colleague's personal one, an amount and a date.

Between company wallets, or between two wallets of the same person, the transfer is instant. When both wallets are personal and belong to different people, the dialog warns that the recipient must approve it first: your balance drops at once, theirs does not change until they press Approve on the Transfer In row of their wallet (or on Transactions, whose header counts the transfers still pending). Reject returns the money to the sender; both rows stay in the history marked Rejected. Until the recipient answers, the sender can still edit or delete the pending transfer.

Sharing a personal wallet

Company wallets are visible to everyone who can see wallets. A personal wallet is shown only to its owner — and to whoever the owner lists under Sharing & Permissions on the Edit page. There are two levels: View Only shows the balance and history; View & Transact also lets that person move money out of the wallet. Change a grant's level from the list, or revoke it with the × next to it and the wallet leaves that person's list at once.

Only the wallet's owner or an administrator can share a personal wallet or revoke a share, and nobody can give themselves access to a colleague's wallet. Company wallets are shared by administrators only.

Deactivate or delete

Edit carries a Status switch. Inactive keeps the wallet and its history but removes it from every place a wallet can be chosen — collecting a payment, income, expenses, transfers, payroll payouts. Use it for an account you closed or a float you no longer run.

Delete Wallet, on the same page, is only possible while the balance is zero and no transaction was ever recorded; anything else is refused with a hint to deactivate instead. A history is never lost by accident.

The Stripe wallet

When you connect Stripe (see Taking cards online with Stripe), a wallet named Stripe appears among the company wallets. It mirrors the balance Stripe holds for you, and nobody types into it: every row is written by Stripe as things happen.

• Online payment — the full amount a client paid by card, as income.
• Processing fees — Stripe's fee on that payment, as an expense.
• Stripe refund — a refund you issued from the payment page, as an expense.
• Chargeback lost and Dispute fee — when a dispute is decided against you.
• Stripe payout — when Stripe sends money to your bank, a transfer out of this wallet into the wallet you chose under Settings → Payments → Stripe payouts (Deposit payouts into; the company's default wallet unless you pick another).

If Stripe already held money when the wallet was created, its first row is an Opening balance.

Because Stripe keeps the books here, the wallet page has no Add Income, Add Expense or Transfer buttons — a one-line note in their place says so. It is never offered when collecting a payment, paying an expense, transferring or paying out payroll: a payment recorded there by hand would stop the balance matching Stripe's. Edit lets you rename it and nothing more — it has no type and no payment methods to set, and both Inactive and Delete are refused because the wallet mirrors your Stripe balance.