RE: Suspense Accounts
Although I have an ordinary business current account, I also have a personal credit card and a Paypal account. For a lot of smaller items, ie, petrol, I pay via the credit card. For online purchases, I pay with paypal. To track the business transactions on these accounts, I have setup two accounts in QF - Paypal & Credit Card. To make life easier, I use a bank feed to update these two accounts. All works perfectly and I can tag the business transactions. Of course, this leaves many transactions untagged because they are not business expenses and this results in a hugh suspense account balance. Should I just:
Delete all Credit Card and Paypal entries not related to business transactions?
Setup an account “PRIVATE” and transfer all non business entries into here?