Expense accounts (previously known as sub accounts) are like mini-accounts within your main Kuda account. They're perfect for setting aside money for specific purposes like recurring expenses, rent, or tax remittance. You can create up to five expense accounts, making it easy to track savings and money movements so you can keep your finances tidy.
Each expense account you create has its own unique account number. This means you can send money to and from the account directly.
For even more financial clarity, the balance and history of each expense account is clearly separated from your main account balance and history. You'll never be confused.
How Do You Create an Expense Account?
Ready to get started? Here's how to create your first expense account:
Sign in to your Kuda Business mobile app, then swipe to Expenses.
Tap Create An Expense Account.
Name your expense account.
Freelancers, you'll choose from a predefined list including Operating Expenses, Client Receivables, Tax Savings, Emergency Fund, Investment & Growth, and Personal Salary.
Tap Done. Your expense account is ready to use right away!
We hope expense accounts take all the stress out of organising your finances.
Remember, these were previously called sub accounts. We've updated the name to better reflect their purpose in helping you manage your business expenses.