Hi - I appreciate the project tagging facility but am struggling with tagging of mortgages and cost of goods sold. Journal entries cannot be project tagged, and using suppliers and invoices I cannot enter balance sheet nominal codes so I can’t tag it for the mortgage payment (only for the interest component). I also enter a journal entry monthly for cost of goods sold and can’t project tag this. Any suggestions how I can get around this? Thank you in advance.
Hi @emilyh
Unfortunately, as you’ve discovered, a journal can’t be allocated to a project, but there are two ways around this.
The first is to allow the nominal codes for balance sheet items to be used in purchase invoices. This is achievable. You can found out more in this post on how to enable this.
The second option is to use adjustments on projects themselves. You can add an adjustment to the invoice or cash balance as your wish. There’s more information on this here
I hope that helps
Hi - thank you for your reply - using the nominal codes for balance sheet items would be a good solution for the mortgage issue except that when I go into the chart of accounts I find the cog for 2330 mortgages (as well as many others) is grey, not orange, so I am unable to edit it - am I doing something wrong here? (Most of them are grey)
Thank you
Hi @emilyh
Sorry - this setting is only available for custom codes. So what you can do is create a custom code at the top of the Chart of Accounts page.
Ah good idea - thank you!