M-PESA Records
Why M-PESA withdrawals should be recorded as transfers
When M-PESA money is withdrawn into Cash, it should usually be recorded as a transfer, not a new sale.
A withdrawal from M-PESA into Cash does not mean the business has made new income. The money has simply moved from the M-PESA account to the Cash account.
If the withdrawal is recorded as a sale, income becomes too high. If it is not recorded at all, M-PESA and Cash balances may both look wrong.
Bizwazi uses transfers to record money moving between M-PESA, Cash and Bank without changing sales or expenses incorrectly.
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.