Splits booked on different days

Robin Coon robin@pjrc.com
Mon, 24 Dec 2001 08:56:37 -0800


I would use the date of the original transaction.  You cannot control the timing
delays of the bank, or any other business.  As for the reconciliation, it is
acceptable to have items in transit.  It is simply a reconciling item that will
clear in the next accounting period.  In practice, an itermediate transfer
account is not used.  I really don't think there is an accounting need to have
dates matched up exactly.

Robin Coon, CPA



lmb wrote:

> Hi,
>
> I am running into a slight problem here :-)
>
> The best example:
>
> I withdraw EUR 200 from my bank account. I instantly have EUR500 more in my
> wallet; however, the transaction doesn't show up on my bank account for lets
> say 4 days; what date do I use when entering the transaction?
>
> After a few days, it doesn't matter because the total on both accounts is
> still correct. However, when calculating interest or reconciling accounts, it
> matters.
>
> How is this solved?
>
> I could see using an intermediate transfer account for each of these
> transactions, but that kind of gives me the creeps ;-)
>
> Sincerely,
>         Lars
>
> --
> "I'm extraordinarily patient provided I get my own way in the end."
>         -- Margeret Thatcher
>
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