Transactions are instances of receiving, paying, or transferring money from one Account to another. Transactions require an Account From, an Account To, and an amount. An example of a transaction is paying your monthly phone bill. The transaction will be from your bank account to your Telephone expense account, with the amount of $150.00. This will take $150 out of your bank account and pay it to the Telephone expense account.
Advanced Transaction Logic: The same result would also occur if you swapped the Account To and From for the account and multiplied the amount by negative one. A transaction from the Telephone expense account to your bank account in the amount of -$150.00 will still take $150 out of your bank account and pay it to the Telephone expense account.
Transactions can also have several other fields, such as check number, payment method, memo, Payee, notes, and transaction image. The transaction image field is a great place to store scans of your receipts for future use.