As Coconut connects to your bank account to capture your incoming and outgoing transactions, cash payments that are done outside of your bank will not be appear in Coconut. You still need to record those cash expenses to get a proper picture of all of your income and expenses for HMRC.
Manual transaction
The recommended way to record cash expenses within Coconut is with a manual transaction. Using manual transactions allows you to specify:
The amount paid
The date the transaction occurred
The category the cash expense belongs to
Any notes to help identify the transaction
Simply head to your Transactions tab, select the "+" symbol and let the app guide you through each screen. Once you have created your manual transaction, this will appear in your transaction list and you can amend it if you need to.
We also recommend to attach receipts to your cash transactions so that you are able to provide evidence for the purchase when needed.
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