Delays in transfers between accounts

[Daniel Carrera]

Hi Fred,

Fred Bone wrote:
> Maybe this issue only affects UK accounts (though somehow I doubt it).

I've seen it in Canada and the UK. Fear not, there is a solution.

> If I transfer money from my savings account with one financial 
> institution to my current ("checking") account with another, the transfer 
> takes three or four working days. For example, a transfer which shows on 
> my savings account statement as dated 3 April shows on my current account 
> statement dated 10 April (two bank holidays and a weekend in between: bad 
> timing on my part!)

And if you do international transfers the delay is even longer :-)

I suggest you create a 'Transit' account under Assets:Bank. You would do 
two transactions:

April  3: Bank A -> Transit
April 10: Transit -> Bank B

Now your GnuCash accounts will both match your bank statements.

As a side-note: This can get funny when you do a cheque deposit into 
"Bank B" and the amount gets added before the cheque has cleared from 
the "Bank A". While you wait for the cheque to clear the Transit account 
has a negative balance :-)

Cheers,
Daniel.