Bank transations to invoices or bills

Is there software that does this?

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Is there a bookkeeping software out there that lets you create invoices or bills directly from imported bank transactions that you have to categorise?

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By SkyBlue22
05th Jun 2024 14:59

I've not seen any that do this, but why would you need to? If you already have the payment you can just categorise the payment. It feels like extra work

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By SXGuy
05th Jun 2024 15:43

Yes. Quickfile is one. You can create an invoice from the transaction however it will create one with the date of the transaction and most of the time bills/receipts are dated the day of purchase with the transaction clearing a day or so later so it's not always best to use this method.

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By Charlie Carne
06th Jun 2024 10:52

What you are asking makes no sense. Either you want to run accrual accounting, processing sales and purchase invoices on the dates raised, with payments following at a later date, or you run cash accounting, where the sales and purchase transactions are dated when paid. If you only have the bank transactions and no underlying sales or purchase invoices, then you can only run cash accounting. In this case, you process cash received as a sales receipt and cash paid as an expense (which are categorised). I'd imagine that most software can cope with that, but I know for certain that QuickBooks can do that.

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Replying to charliecarne:
By ryanmillward
06th Jun 2024 11:54

Pretty sure thegreatgrumbleduke wants to run accrual accounting but they want to add the transactions in one step. They don't want to add a bill and then find the bank transaction to match it to. They just want to add a bill directly to a bank transaction and don't want the bill and bank transaction to always have the same date.

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