Please can you add a field to “project tag” a bank transaction when using the “Something else not on this list” option. I know you can do it via the the sales and purchase invoice options, but this involves extra steps, especially for a business which is not VAT registered.
Thank you
Whether you are VAT registered or not should not affect whether you record sales and purchases in your accounting software.
If you are limited company then you have a legal requirement to maintain full records.
If not, then you still need to be able to extract the data for your tax return and if transactions are not turned into sales or purchases when they should be then these will not be in your Profit and Loss.
Thank you Martin, however as a Chartered Accountant I do know what I’m doing!
This is merely requesting the ability to add the project level tagging (to produce a segmented p&l) without having to go through the invoice / bill route for transactions that do not require them (e.g. bank charges).
No problem; that information was not apparent and it seemed like trying to shortcut adding sales and purchased but still keep the project tagging.
I can’t think of an example from my bank statement that would need project tagging but I accept that you may well have a need for this.