Import tool and Mass Update of Transfers

Question asked by Keith Pocock 10 years ago

I seem to have an issue with using the Mass Update tool to import Transfer entries.

Before importing my bank statement, I identify all the payments I have received directly from clients. I prefix these entries with "Transfer-". The idea being that I can then use an Import Rule to process all the entries as Transfers from my "Sales - BACS payments" account, where the original sales are posted.

However, the Mass Update tool insists that I put values in for Entity, Account, VAT etc. and as a result entries end up being treated as revenue.

Perhaps I am missing something obvious?

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4 Replies

Hi Keith

Mass update of transfers doesn't work i'm afraid.

You can achieve the same outcome if you really want by analysing them all as receipts/payments to/from the appropriate bank account (remembering to exclude from the VAT return) but they will then clog up your sales/purchase list which I find very annoying.

You'll have to make a compromise either way...

Best answer
10 years ago

Hi Keith

Cash/chq sales sounds about right, 'transfer' sales you could probably just explain straight from the bank statement when they're coming in so long as the client is paying same day (ish).

The only other option is to delete the bank transfers from the import and just create one bulk transfer in the system for the month. So long as everything balances come month end I think that would be acceptable.

The trials and tribulations of being the company bookkeeper eh...

10 years ago

Hi Kevin, Thank you for the reply and link. I did do a search before posting, can't imagine why I didn't find the previous posts on the subject.

I am doing the books for my partner's small home hairdressing business. All sales are logged to either "Cash/Cqh Sales" or "Transfer Sales" account as 'Money In" (since invoices are not involved), and then the cash & cheque Deposits and the actual transfer payments in the bank account are processed as Transfers from those respective accounts. I am not sure there is a better way to do it (but I am not a professional book keeper).

All the information for sales and of course the bank accounts is available digitally so it seems crazy to have to process them individually. I will add my name to the feature request, and sit down to a very boring session of repetitive key pressing! :-(

10 years ago

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