Importing & transfers between accounts

Question asked by Mike Ellis 4 years ago

Hi...

I have imported two statements from accounts A and B and in the period concerned there has been a transfer between accounts. Explaining the transfer on both statements results in duplicate transactions in one of the accounts. I believe that this is understood and has been recommended as a change on more than one occasion. OK

I followed some advice I found on this forum along the lines of delete the transactions in the import process from one of the accounts to avoid the duplicate problem. This enables account A to be reconciled. However, account B can no longer be reconciled because it is missing the transactions that are required to reduce the balance. i.e I have deleted them.

How do I manage the 'explain statement' process for both statements and still get both accounts to reconcile?

The only thing that I can think of if to fully import both statements and then retrospectively delete the duplicate transactions. Is there a better way of doing this. Surely there must be.

2 Replies

Hi Mike,

I think we need to add the ability to reconcile a transfer in future - this is logged with our product team to review if there are any developments on this in future I will let you know.

So the current behaviour of transfers is that if you explain a payment/receipt on a statement using the transfer tab, the system will create a payment on the bank account you imported the statement for and the bank account you use in the explanation (of receiving money/paying money).

So in the example below £200 will leave HSBC and £200 will be received in Barclays:

file

Which will update the balances of both accounts appropriately, and should mean both accounts are reconciled:

file

The problem is what to do with the £200 payment on the HSBC statement - the only solution for the moment is to delete this payment from the statement

file

Thanks John I'll take this approach. It would be an excellent future development.

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are