Sole trader here. Just a quick question - I’ve always logged my drawings as a bank transfer between accounts and then chosen my drawings account. But I’ve just noticed there is a specific button for drawings - will I need to go back through all of my transactions and change them or does this essentially do the same things?
All this option does in the tagging system is transfer the funds to the Proprietor Drawings accounts. Which it sounds like you have already been doing manually… so no, you would not need to go back and change anything.
Many thanks! So it’s essentially the same thing, but a slightly different method?
Yep, it’s a transfer to Proprietor Drawings, same thing as if you were to tag it as a bank transfer.
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