transaction date

Yogesh Agrawal agrawaly at gmail.com
Thu Mar 13 20:06:43 EDT 2008


I have a suggestion, and I got this one by looking at one of the credit card
statement.

where you will see two date,  transaction date and posting date, at least if
I have an
option to add a another date column in my account page, it will help.

I tried to search the mail-archive but I couldn't find how to add new
columns on the account page.


On Thu, Mar 13, 2008 at 7:26 AM, Andrew Sackville-West <
andrew at swclan.homelinux.org> wrote:

> On Thu, Mar 13, 2008 at 06:41:06AM -0500, Mike or Penny Novack wrote:
> >
> >>
> >> The short version is that there is nothing incorrect about having the
> >> dates not match perfectly on both ends of a transaction. You record
> >> your transactions on the day you initiate them. Other parties involved
> >> in the transaction record them on the day they process them. These
> >> dates don't match and that's okay.
> >>
> >    That wasn't this situation. Of course the dates on your books need
> > not match the dates on some other entity's books. But here the
> > transaction was between two accounts in the same set of books. Note that
> > for legal purposes the real date (when going between parties) may not be
> > the date that either end has recorded. Unless a contract between the
> > parties specifies otherwise, might be the date when "constructive
> > delivery" occurred --- thus if that were critical, might be obtaining a
> > mailing receipt from the post office (again -- the usual disclaimer.)
> >
> >    The person asking the question didn't say WHY it was important that
> > the book dates matched what the banks had. From personal experience, let
> > me say that it can be*.
>
> I don't disagree that there are times when it's a problem. I was
> merely trying to point out that it is perfectly common for dates to
> not match.
>
> This is just an artifact of our banking systems and it's something we
> have to either live with or work around. We are mostly insulated from
> this situation when the txn is essentially between two sets of books
> (e.g. mine and my vendor's). It only becomes glaringly obvious to us
> when the txn is between two accounts in the same set of books but
> between two different entities in the real world.
>
> Most people seem unbothered by this when they are dealing with a check
> written and mailed but for some reason can't tolerate it when it's a
> wire transfer between two of their own accounts. It is an interesting
> phenomenon...
>
> >
> >> If for some reason you need to keep specific track of the dates
> >[...] then
> >> do as Mike suggested and use an interim account ("Funds in
> >> Transit"). Note [...] THe money out of one account will not directly
> point to
> >> the other account in which it is deposited.
> >>
> >>
> >    There is a "description field" available on both transaction (to and
> > from "funds in transit") which can be used to for that purpose (when
> > going into "transit", record ultimate destination and when leaving
> > "transit" record where from).
>
> I'm fully aware of the description field ;)... But the direct
> connection (all splits in one txn and only pointing to final
> destinations) is lost. It's a level of indirection. It's perfectly
> valid and I use it all the time, (for reasons other than the "float"
> between banks), but it's still a disconnect.
>
>
> >
> > Michael
> >
> > * I am also "treasurer" of a second entity but in this case one that
> > does not have it's own existence as a 510(c)3 independent from national.
> > I have to submit quarterly reports plus the bank statements for our
> > local group to the national treasurer. If the transit interval spanned
> > the closing days of a quarter a discrepancy between books and bank
> > statements would be glaring and depending on the personality of the
> > national treasurer I might have a lot of explaining/exception report
> > filing to do (the previous office holder in that post was most
> > unreasonable).
>
> <shudder>
>
> A
>
> -----BEGIN PGP SIGNATURE-----
> Version: GnuPG v1.4.6 (GNU/Linux)
>
> iD8DBQFH2TmqaIeIEqwil4YRAkmVAJ92ZIGbrJVUrhzx/wVO+AckNfG61gCgoGVY
> Q85RxDWtYMsbHwt/vgTVBFc=
> =y0Mg
> -----END PGP SIGNATURE-----
>
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>



-- 
"Being rich is having money; being wealthy is having time"- Margaret Bonnano

Text : 15103257640 at mobile.mycingular.com

Blogs
---------------------------------------------------------
Tech: http://yagrawal.blogspot.com
Financial: http://agrawaly.blogspot.com


More information about the gnucash-user mailing list