Is it possible to credit the bank account without raising an invoice?
What would you like to credit it against? The transaction goes on the bank account but obviously it remains untagged until you pick something.
I haven’t started using the accounts yet but I have 5 properties I let out so will be using 5 of the income codes to do this. Hence I don’t need to raise an invoice as the rent is paid each month by BACS transfer.
Thanks for your help with this.
The invoice creation and payment processes are tools that do a string of accounting entires under the covers. If you don’t want to use them you are going to be doing a lot of error prone messing about with journals.
I would suggest creating recurring invoices for each rental. They don’t have to be sent to anybody but will automatically create the correct journal entries. As an added benefit there will be a warning generated if the BACS transfer doesn’t arrive.
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