Importing & transfers between accounts

Question asked by Mike Ellis 8 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.

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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

Best answer
8 years ago

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

8 years ago

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