Accounts & Currencies
Transfers, deposits, and withdrawals
Record account movements in Wageso, including transfers between accounts, different-currency conversions, deposits, and withdrawals.
Last updated:
What account movements are
Account movements update balances in the Assets Module. Use them when money moves into, out of, or between accounts.
Wageso supports:
- Transfer between accounts.
- Deposit.
- Withdraw.
These actions are different from Cashflow income and expense entries. They are focused on account balances in Assets.
Transfers between accounts
Use Transfer when money moves from one account you track to another account you track.
Examples:
- Moving money from Cash to Bank.
- Moving money from a checking account to savings.
- Moving money between accounts in different currencies.
If the accounts use different currencies, record the conversion details carefully. This helps the movement reflect the real amount leaving one account and the real amount arriving in the other.
Deposits
Use Deposit when money enters an account without being a transfer from another tracked account.
Examples:
- Adding starting cash to an account.
- Recording money that was not previously tracked in Assets.
- Increasing an account balance after an external inflow.
If the deposit is also income you want to analyze in Cashflow, make sure your Cashflow entry and account movement do not create confusion in your own review process.
Withdrawals
Use Withdraw when money leaves an account without being transferred to another tracked account.
Examples:
- Removing cash from tracked balances.
- Recording an external outflow from an account.
- Correcting an account balance when money is no longer tracked.
Use clear notes or names when the reason may not be obvious later.
Record a movement
Pick the right action
Choose Transfer, Deposit, or Withdraw based on what happened.
Enter account and amount details
Select the correct account or accounts, amount, date, and currency details.
Check Assets
After saving, review account balances in Assets to confirm the movement is reflected correctly.
What to check if balances look wrong
Check whether the movement type was correct, whether the right accounts were selected, whether the amount sign and currency were correct, and whether a transfer should have been a deposit or withdrawal instead.