What's the best way to model an electronic funds transfer pull with hold

[John Ralls]

> On Oct 1, 2017, at 9:49 AM, Nelson <fkjasdhf878 at mailinator.com> wrote:
> 
> Hi John,
> 
> What I am doing today is exactly you are saying. I have a "pending" account
> and I would record two transfers:
> 
> - $10000 bank-a -> pending
> - $10000 pending -> bank-b postdated by 5 business days.
> 
> What bothers me with this approach is that when I go online on bank-a I see
> a different balance than I have in GC.
> 

You could record the transfer to the suspense account 2 business days in the future so that you’re aware of the obligation but today’s balance still matches.

IMO it’s better to just accept that trying to match your books to the bank’s day-to-day is a fools errand and to recognize transactions in your books when you initiate them… and maybe reflect on why you’re maintaining 10 bank accounts and tying up money for days at a time by shifting it among the accounts.

Regards,
John Ralls