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

[RL]

Alton

Thanks for that "ACH" alternative. It looks elegant. I'm going to give
it a try and see if the procedure is clearly understandable (to me, in
practice) and how easy it is to make the entries. I suspect that once
the first transaction has been fully completed, GC may help by
auto-filling the balancing entry in the ACH acct... Definitely worth a try.

Rufus




On 05/15/2018 08:40 AM, Alton Brantley wrote:
> Under each account for which this can occur, I create a subaccount
> called “ACH” for “Automated Clearing House,” so when the originating
> account registers the transfer transaction, the target account’s
> subaccount “ACH” gets the corresponding split. Then, when the receiving
> account registers the transaction, I put the matching inverse split in
> the ACH and the closing deposit in its parent account.
> 
> This sequence matches what really happens (Source ->ACH then
> ACH->Target), with the added benefit that the Target account, when
> opened with “Include Subaccounts” checked, shows the true expected value
> of the deposit.
> 
> I have an ACH account as a subaccount of both my bank account and my
> investment accounts.
> 
> 
> 
> 
> 
>> Message: 13
>> Date: Mon, 14 May 2018 19:35:30 -0700
>> From: Kate Kelly <kkenews at gmail.com <mailto:kkenews at gmail.com>>
>> To: rlaggren at mail.com <mailto:rlaggren at mail.com>
>> Cc: gnucash-user at gnucash.org <mailto:gnucash-user at gnucash.org>
>> Subject: Re: [GNC] how do I get different dates for balancing
>> transactions when transferring amounts between two accounts
>> Message-ID:
>> <CANbW8pFi51LPsRu0pnPmowqJ4Dft4KA=Z7HsX4A4szSMTymxaA at mail.gmail.com
>> <mailto:CANbW8pFi51LPsRu0pnPmowqJ4Dft4KA=Z7HsX4A4szSMTymxaA at mail.gmail.com>>
>> Content-Type: text/plain; charset="UTF-8"
>>
>> Hi Rufus,
>>
>> I am a bookkeeper and former CPA.
>>
>> An account that is often used for checks not yet sent to the bank is
>> "undeposited funds." This is similar to a suspense account in that
>> there is
>> a timing difference between the receipt of a check and the time you
>> actually deposit it.  You could debit the undeposited funds account
>> for the
>> amount of the payment. When the check clears the receiving bank, credit
>> Undeposited Funds and debit your Checking account.  You could add the
>> check
>> number to the memo line or record the deposit as DEP#### (#### being the
>> check number.
>>
>> 1.  Write check # 1718 for $100:
>>   Undeposited Funds  $100
>>   Checking Account A             $100
>>
>> 2. Check clears the receiving bank:
>>   Checking Account B $100
>>   Undeposited Funds.              $100
>>
>> I hope this helps.
>>
>> Kate
>>
>>
>> On Mon, May 14, 2018, 3:21 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
>>> _______________________________________________