Transfers between bank accounts

Question asked by David Gibbs 8 years ago

Hi there,

I was wondering if someone could help me with this, I have Yodlee set up and import my transactions lists via this method, I have UK & EU accounts with the same bank, set up on clean oil as separate banking accounts, I make transfers from my U.K. To EU account and visa versa.

When explaining the yodlee download on the UK account I set the payment to the EU account as a transfer and enter the amounts/accounts etc, Done.

What do I then do with the money showing on the EU account, initially I set this also up as a transfer entering all the same details but it debited the UK account a second time and in turn alter my balance to an incorrect figure.

So my question in short when transfer has been set on account 1 how do you then allocate the money on account 2 as the same transaction from account 1.

Thanks in advance for your help.

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4 Replies

Hi David - hitting the red x in the EU statement is correct, this doesn't actually delete the entry from the statement but stops the system thinking it needs explaining.

CB treats each bank statement feed separately and, although it sometimes gives you a warning that there is a similar transfer already on the system, it's not clever enough to be able to match the transfer you've already entered from the UK account with the transfer you are now trying to do again, from the other end.

Once you've done all the explaining, the proof that you've got it right is to look at the accounts on the bank screen and, in particular the month end balances, to make sure they agree with the actual bank accounts.

Best answer
8 years ago

Hi David

If you explain the same entry on the EU account you'll end up entering the same transfer twice and so you just ignore (delete) it in the EU transactions.

8 years ago

Paul,

Thanks for the response.! I thought exactly the same but when I did this I removed the credit balance and put all of the debit transactions into the minus figures.?

I literally set the transfer in the UK account then the same items in the EU account I pressed the red X next to them? Have I done that process wrong? I would have thought the books would have registered it as a duplicate transaction to the transfer set in the U.K. Account but it didn't?

8 years ago

Hi David - hitting the red x in the EU statement is correct, this doesn't actually delete the entry from the statement but stops the system thinking it needs explaining.

CB treats each bank statement feed separately and, although it sometimes gives you a warning that there is a similar transfer already on the system, it's not clever enough to be able to match the transfer you've already entered from the UK account with the transfer you are now trying to do again, from the other end.

Once you've done all the explaining, the proof that you've got it right is to look at the accounts on the bank screen and, in particular the month end balances, to make sure they agree with the actual bank accounts.

Best answer
8 years ago

Paul, thanks again for your assistance on this one and I'm glad there are people out there that are happy to give advice .

For some reason it didn't work setting the transfer in the UK account, I was able to set the transfer in the EU account and then CB recognised the same transaction In the U.K. Account as duplicate and I was able to cancel it there and keep the balances the same.

Thanks again.

8 years ago

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