Dealing with the arcane UK clearing system

[Andrew Sackville-West]

On Tue, Oct 30, 2007 at 04:08:13PM +0000, Adrian Simmons wrote:
> Edward Grace wrote:
> > What's the best way to deal with this?
> My attitude has always been that the important thing is the money, not the 
> date it moved, so I just enter the date of the first transaction and leave 
> it at that.
> 
> But you have a point, and it looks like you've come up with a way of dealing 
> with it - be interesting to see what everyone else says :)

I agree with you that to a certain extent it doesn't matter. Unless
you have some overwhelming need or the money takes a *really* long
time to move, I personally don't think its such a big deal. 

However, Edward's solution is the right one, AIUI. Its typically
called "Funds in Transit" or some-such and is an asset like any
other. It just happens to be one you can't get access to (non-liquid
for a period of time).

A
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