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

[David Carlson]

Nelson,

Just one comment from another user;
My banks do not show holds online, or if they do, it is a simple summary of
book balance vs available balance.  They warn that ACH transfers these-days
often clear on the same day.
To me, it is too much effort to try to track that, and as others have
mentioned, GnuCash does not track those details unless you manually set up
mechanisms in your chart of accounts and scheduled transactions, etc.

David C

On Sun, Oct 1, 2017 at 12:00 PM, John Ralls <jralls at ceridwen.us> wrote:

>
>
> > 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
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