Bank transactions and entering data for previous business year

AngeMGAngeMG Member Posts: 3

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

instead of

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.
Cheers Ange


  • MikegMikeg Member Posts: 791 ✭✭✭

    Yes you can do as simply as that. Additional tips would be to use the search function. This will enable you to find items that bear the same description. From there you can select all (top left) and categorize in bulk. Another feature is the filter. So for example, let;s say all deposits are sales. You would go to filter, Deposits, select all then categorize as sales.

  • AngeMGAngeMG Member Posts: 3

    Thanks @Mikeg yes have been using both those features.
    Appreciate your response.

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