Greetings
if I create a sales invoice and then receive a payment, I get an automatic entry of the sale in my business account. If I then import a bank transaction covering the same period, I get a duplicate entry.
I like importing bank statements but don’t like the idea of having to find and delete duplicate sales.
I am thinking of creating a FAKE business in Manager with the sole purpose of creating and tracking invoices without it affecting the transactions in my REAL business for which I will use a downloaded bank statement.
are others doing this? I can’t think of any reason why it would not work for me.
I don’t see it as being extra work because no work is actually duplicated, I will just do the invoices in a FAKE company file and there will be no invoices in the REAL company file. All sales will eventually be imported into the REAL company file from the bank statement.
I usually enter all my income and expenses quarterly at BAS time but I like to manage my invoices on a day to day basis.
Keeping invoicing separate means I can keep my invoices updated (i.e. paid/due/overdue) without transactions being made in the REAL company file that will then be duplicated when I download all my bank transactions for the quarter.
It seems to make sense to me and actually less work due to the non-duplication of transactions.
Importing bank statements is a very useful feature but I do see the duplication of transactions as a big downfall of importing bank statements.