Bank transactions and entering data for previous business year
Hello I have linked bank feed with Wave for previous financial year and have the transactions to organise. It's a fairly simple property business but as I want it done quickly for tax reasons ..
Am I able to go to Transactions and simply
Check/edit description / dates etc
Categorize (most of them are accurate)
Add Customer or Vendor as applicable
Split the transaction if needed
Save / Review
Adding invoice / bill recording payment etc... like you would if you were doing it as you went along normally??
Will this send info to the correct reports like P and L and say detailed customer reports etc..
If I wanted to add the extra detail that an invoice would have ... would I go back and do at a later date??
and what about receipts ... I believe it creates duplicate transactions instead of linking to current ones..yet to explore that??
Thanks so much for any advice.