Can you create new person accounts in the gift entry grid?

Just implementing Fundraising in NPC for the first time, and I have turned on Gift Entry Grid in the fundraising settings. I was expecting that you would be able to use this grid to create person account records for new donors, but after playing with it for a while it seems that it will only allow you to create gift entries for existing donor records. Is this correct or am I missing something? 

Also is the grid meant to be able to tab through each row? It seems like it is, but the field highlighted by tabbing seems a little buggy; sometimes it hightlights the next field and sometimes it skips to the save button at the bottom of the screen.