[GNC] Lodging a cheque to an a/c - 'cash in wallet'??

[R. Victor Klassen]

I generally use a two step process.  

First the cheque goes into “undeposited cheques”.   And the appropriate income account is credited.  Then when I make a deposit I may be depositing cash and multiply cheques in a single transaction with the bank account as destination.  

Sent from my iPhone

> On Jan 17, 2022, at 12:10 PM, Derek Atkins <derek at ihtfp.com> wrote:
> 
> Hi,
> 
>> On Mon, January 17, 2022 10:51 am, Mahon Finbar wrote:
>> Hi,
>> 
>> My wife got a cheque (or check if you insist) and lodged it in her bank
>> account.
>> 
>> I want to enter it as a deposit to her a/c. It only seems to accept
>> Assets:Current Assets:Cash in Wallet as a transfer entry without
>> entering two transactions - deposit and withdrawal....
>> 
>> Since the amount will be credited to the a/c "cash in wallet" somehow
>> doesn't seem right?
>> 
>> Is there a 'proper' way to enter a cheque lodgement?
> 
> Just like any other deposit....   You debit your checking/bank account for
> the amount of the check, and then credit the amount from wherever the
> funds are coming from, like Income:Salary, Income:Gifts Received, etc.
> 
> Why did she get a check?  What was it paying for?  That will help you
> decide where the credit the funds.
> 
>> Finbar
> 
>> Please remember to CC this list on all your replies.
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> 
> -derek
> 
> -- 
>       Derek Atkins                 617-623-3745
>       derek at ihtfp.com             www.ihtfp.com
>       Computer and Internet Security Consultant
> 
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