Whats the difference between Input New Transaction and then tagging it, and doing a New Journal Entry?
You mean a new transaction on the bank? If so it depends how you tag it, if you just tag it directly to a nominal ledger then this is no different to using a journal. If you tag it as a purchase/sales invoice then an additional invoice document is created and the ledger entries are mapped from there.
Ah yes. When I am on the bank account screen. The green button on the top left.
Right so if I made a purchase yesterday and did it as in input transaction rather than a new journal entry the overall impact is the same, but just requires less work.
When you input the purchase on the bank, how did you tag it? Payment to a supplier?
I tagged it as Office Equipment (it was a transaction to represent the transfer of ownership of the basic office equipment to the company). I also manually input the money wages this way too and tagged them to NET Wages…
As you tagged it straight to the nominal code (using the tagging option “Something else not on the list”) it would be the same as if you journalled it.
Tagging from the bank is much faster. So you upload your bank statement and tag everything from there.
Yeah once I get the internet banking logins…until then its all manual…