M-PESA Records
How M-PESA to Bank transfers can confuse business records
Moving M-PESA money to Bank should be recorded as a transfer, not as a new sale.
When M-PESA collections are moved to the bank, the business has not made a new sale. The money has only moved from one account to another.
If the movement is recorded as a sale, income looks too high. If it is not recorded at all, M-PESA and Bank balances can both look wrong.
Bizwazi uses transfers to show money moving between Cash, M-PESA and Bank without treating it as new income or a new expense.
How Bizwazi helps
Bizwazi gives small businesses a simple way to record sales, expenses, invoices, inventory, supplier bills, transfers, daily balances and reports in one place.