transaction date
Mike or Penny Novack
stepbystepfarm at mtdata.com
Tue Mar 11 21:28:52 EDT 2008
Yogesh Agrawal wrote:
>Hi,
>I have a question regarding the transaction date, I will explain this with
>an example:
>
>I transfered $100 from Citibank to BOA on 01/01/2008.
>The amount has been debited from citibank account on 01/01/2008, but it got
>credited to
>BOA on 01/03/2008.
>
>So when I put this transaction on citibank account I put it on 01/01/2008
>at the same time I do a transfer to boa. So on boa the date comes as
>01/01/2008, but it has
>to be 01/03/2008.
>
>If anybody knows any better way to do it, please let me know.
>
>Thanks,
>Yogesh
>
>
I take it that you were transferring between two bank accounts and the
banks aren't agreeing on the offical dates for the transactions (and
this gives you trouble matching transactions to a bank download). Could
actually be a farily normal situation --- you draw a check on one
account intending that it be deposited the same day but fail to get to
the other bank before time of close of business. Or as in this case, a
holiday was involved.
If I am correctly describing the situation, you could create a current
asset account with a name like "funds in transit" and you would have one
transaction date 1/1 putting the funds into transit and another 1/3
taking them out . Again please note that questions like this are
accounting questions rather than GnuCash questions. Most of us here
aren't certified for giving accounting advice, so take that as a disclaimer.
Michael
--
There is no possibility of social justice on a dead planet except the equality of the grave.
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