Skip to main content

Incomes

An Income in Arthalekha represents money received into one of your accounts. Recording incomes helps you track where your money comes from and maintain accurate account balances.

What is an Income?​

An income is any money that comes into your possession and increases an account balance. Common examples include:

  • Salary or wages
  • Freelance payments
  • Investment returns (dividends, interest)
  • Refunds
  • Cash gifts received
  • Rental income
  • Sales of items

Income Properties​

Each income record contains:

PropertyRequiredDescription
DescriptionYesWhat the income is for (e.g., "January Salary")
AmountYesThe amount received
DateYesWhen the income was received
AccountYesWhich account received the money
PersonNoWho received this income (optional)
TagsNoCategories/labels for this income

How Incomes Affect Balances​

When you record an income:

  1. The account's current balance increases by the income amount
  2. The monthly balance record is updated for the transaction month
  3. Any projected balances are recalculated

This happens automatically - you just need to record the income.

Example​

If your "HDFC Savings" account has a balance of ₹50,000 and you record a salary income of ₹75,000:

Before: ₹50,000
Income: +₹75,000
After:  ₹1,25,000

Recording an Income​

When recording an income, you'll need to provide:

1. Description​

A clear description of what the income is for:

  • "January 2024 Salary"
  • "Freelance - Website Project"
  • "Amazon Refund"
  • "Birthday Gift from Dad"

2. Amount​

The exact amount received. Enter the amount that was actually credited to your account (after any deductions).

3. Date and Time​

When the income was received. This is important for:

  • Accurate balance calculations
  • Monthly reports
  • Historical tracking

4. Account​

Select which account received the money. The balance of this account will increase.

5. Person (Optional)​

If tracking income by family member, select who received this income:

  • "Dad" for father's salary
  • "Mom" for mother's business income
  • Leave blank if not tracking by person

6. Tags (Optional)​

Add tags to categorize the income:

  • "Salary" for regular employment income
  • "Passive" for investment returns
  • "Refund" for returned money

Filtering and Searching Incomes​

You can filter your income list by:

FilterDescription
Date RangeView incomes within a specific period
AccountView incomes for a specific account
PersonView incomes received by a specific person
TagView incomes with a specific tag
SearchSearch in income descriptions

Exporting Incomes​

You can export your filtered income list to CSV format for:

  • Backup purposes
  • Analysis in spreadsheet software
  • Tax preparation
  • Sharing with family members

Importing Incomes​

You can bulk import incomes from a CSV file:

  • Import historical data
  • Migrate from other tools
  • Restore from backups

The CSV must have specific headers and format. See Imports for details.

Income vs Transfer​

It's important to understand the difference:

ScenarioRecord as
Received salary from employerIncome
Received payment for servicesIncome
Moved money from Account A to Account BTransfer (not income)
Withdrew cash from bank to walletTransfer (not income)
Received gift/cash from outsideIncome

Rule of thumb: If money is entering your financial ecosystem from outside, it's an income. If money is just moving between your accounts, it's a transfer.

Best Practices​

Be Specific with Descriptions​

Instead of just "Salary", use "January 2024 Salary" or "Acme Corp - Jan Salary". This makes searching and reviewing easier.

Record Promptly​

Record incomes as soon as they're received. This keeps your balances accurate and reduces the chance of forgetting transactions.

Use Tags Consistently​

Develop a consistent tagging system:

  • "Salary" for all employment income
  • "Business" for business/freelance income
  • "Investment" for returns, dividends, interest
  • "Other" for miscellaneous income

Associate with People​

If multiple family members earn income, always associate incomes with the correct person. This enables:

  • Individual income tracking
  • Per-person reports
  • Understanding household income distribution