transaction date

Divakar Ramachandran divakar07 at dataone.in
Fri Mar 14 10:55:18 EDT 2008


For transactions where it matters to me I use the Loans and Advances
account as a temporary parking space for the funds. Say I have sent in a
check with an application for stocks, I record it with the date sent as
a transfer from the bank account to the Loans and Advances account with
the company name etc. in the description field. Another transfer record
from the Loans and Advances account to the relevant Brokerage account on
the allotment date completes the txn.

HTH,
Divakar


On Thu, 2008-03-13 at 22:38 -0400, Derek Atkins wrote:
> There's only one visible date column, the Post Date.  There are a
> few invisible dates on transactions and Splits.  There's the
> Entered Date (T) that's assigned to the actual date/time that
> you create the transaction, and there's the Reconciled Date (S)
> which is assigned to the closing date when you reconcile a split.
> There are no other dates available to you.
> 
> GnuCash does not support what you want to do.  You have to choose a date for
> the transaction and live with that one date, even though your two
> bank accounts differ.
> 
> -derek
> 
> Quoting Yogesh Agrawal <agrawaly at gmail.com>:
> 
> > 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
> >>
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> >> Q85RxDWtYMsbHwt/vgTVBFc=
> >> =y0Mg
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> >>
> >> _______________________________________________
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> >
> >
> >
> > --
> > "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
> > _______________________________________________
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> >
> 
> 
> 
Divakar Ramachandran
Anupuram, TN 603127, INDIA





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