How Ogeemo Manages Your Money In & Money Out
A guide to tracking money you're owed (Accounts Receivable) and money you owe (Accounts Payable) and how it connects to your ledgers.
The Core Concept: Promises vs. Cash Flow
Think of your accounting in two stages:
- Promises: Recording money you expect to receive (Accounts Receivable) and money you have to pay (Accounts Payable).
- Cash Flow: Recording when the money actually arrives in or leaves your bank account (Income & Expense Ledgers).
Ogeemo helps you track both, keeping your books accurate for both cash-basis and accrual-basis accounting. For full audit-readiness, it's best practice to save a digital copy of every source document (invoice, bill) to a cloud service like Google Drive and link it to the transaction in Ogeemo.
This is for money your clients owe you.
Step 1: Create and Save Your Invoice
- Action: You complete work and use the "Create Invoice" page to generate a professional invoice.
- System: When you save the invoice in Ogeemo, it automatically adds this invoice to your Accounts Receivable list.
- Important: After creating, download the invoice as a PDF and save it to your "Accounts Receivable" folder in Google Drive.
- Result: You now have a record of money owed to you, and a digital copy for your records. Your income ledger is not yet affected.
Step 2: Record a Payment
- Action: Your client pays you. You go to the Accounts Receivable page and find the invoice they paid.
- System: You click "Post Payment" on that invoice and record the amount you received.
- Result: Two things happen automatically:
- The invoice's balance due is reduced or marked as "Paid".
- A new transaction is created in your Income Ledger, showing that you have received cash. This keeps your cash-basis books perfectly up-to-date.