How to assign Account (General Ledger) code to a bank transaction

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1

I have imported transactions from my bank statement. Some of these are transactions like bank fees etc. So there is no customer or supplier involved. I simply want to assign an Account (General Leger) code to these transactions so they show up on a P&L report. What is the quickest way of “coding up” these transactions?

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2

Hi there,

You probably want to create a Journal Entry. Journal Entries are the utility knife of accounting documents. If there’s not a specific document for the transaction (Purchase Invoice, Sales Invoice, etc.), a Journal Entry is the backup.

Bank Transactions don’t by themselves create entries in the General Ledger, though there are tools that will help you map. The Bank Reconciliation Tool, for example, allows you to generate Journal Entries from Bank Transactions.

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