[GNC] how do I get different dates for balancing transactions when transferring amounts between two accounts

[RL]

Dave

Thanks for the insight. I had initially thought about the concept of a
"float" account but then figured there might be a more straightforward
way. I mean, this can't be all that uncommon... I'll have to think about
this a little, but now I know others have addressed this with a float
(or maybe call it a "link"?) account, I can be a more confident spending
time pursuing the concept. By chance I will be meeting with a real
accountant tomorrow and if circumstance favors I'll ask him about this
little issue. I would think the pro's would favor rigorous accuracy; I
wonder if their software does special tricks automatically or what?

Regards,
Rufus




On 05/14/2018 06:40 PM, David Carlson wrote:
> We all have our own definition of the the best way to handle these
> 'float' issues.  While most of us simply choose to let the date be
> technically incorrect in some accounts, others create what I believe are
> called 'suspense' accounts to serve as containers for the 'float'.
> 
> Those accounts could be asset type or liability type and they usually
> are given a name that strongly suggests their purpose as a temporary
> holding account.
> 
> David C
> 
> On Mon, May 14, 2018 at 5:19 PM, RL <rlaggren at mail.com
> <mailto:rlaggren at mail.com>> wrote:
> 
>     I have two bank accounts on which I regularly write checks to transfer
>     amounts between them. Downloading the ofx files from each bank, I have,
>     for those checks, transactions with different (correct) dates in each GC
>     account which represent the left and right side of the same accounting
>     transaction. For purposes of reconciling against the bank statements,
>     these dates must remain different in their separate GC accounts, even
>     though they are opposite ends of the same accounting transaction.
> 
>     GC wants to make the balancing transactions in each GC account one
>     single identical transaction (except for the proper credit/debit column,
>     depending on which account I'm looking at). I don't see how to work this
>     and maintain both accounts true to their source, the bank transactions.
>     The date is also important because at times it matters when a check was
>     cashed and when it was payed by the originating bank; there needs to be
>     an accurate record of this. An additional, maybe lesser, problem is that
>     GC's methodology makes the transaction number the same in each GC
>     account. Since the trans number is one of the most easily noted text
>     fields, I have been using it to quickly/easily identify "deposits" - but
>     this won't work if I want to retain the check number in that field (very
>     important). Also, a check number on a deposit line doesn't seem
>     particularly proper.
> 
>     How is this handled in GC?
> 
> 
>     Thanks
>     Rufus
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