Repeating journals
LV1 has a feature for repeating journals, which I used for posting regular monthly withdrawals from the property business, however it seems this is missing from LV2.
Can you bring it back please?
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Replies 4
Hi all
We have recently added a new rules feature to the bank reconciliation which allows you to add personal drawings, director's loan payments and other similar transactions easily. On the Reconcile page, select Rules and then Create Rule. Set the conditions and then select Ignore rather than Raise an invoice or bill and complete the form. The software will now post a journal to the account set in the rule every time that payment comes up. SImply press OK on the Reconcile page to complete the process
Thanks for this Roy.
Any chance of the repeating journals functionality that isn't tied to the bank statement?
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You can achieve the same end result by;
-Creating a liability account for Personal drawings (Follow the instructions on the Knowledge base page)
-Creating an Expense Category linking to it, I called it personal spending.
-Create an recurring bill, using the expense category you created.
It's an easy way of recording sporadic items again personal drawings or directors loan account.
Hope that helps :-)