Kate "Undeposited funds" may be the right name. Just have to get the procedures in place now...
Rufus On 05/14/2018 09:35 PM, Kate Kelly wrote: > Hi Rufus, > > I am a bookkeeper and former CPA. > > An account that is often used for checks not yet sent to the bank is > "undeposited funds." This is similar to a suspense account in that there > is a timing difference between the receipt of a check and the time you > actually deposit it. You could debit the undeposited funds account for > the amount of the payment. When the check clears the receiving bank, > credit Undeposited Funds and debit your Checking account. You could add > the check number to the memo line or record the deposit as DEP#### (#### > being the check number. > > 1. Write check # 1718 for $100: > Undeposited Funds $100 > Checking Account A $100 > > 2. Check clears the receiving bank: > Checking Account B $100 > Undeposited Funds. $100 > > I hope this helps. > > Kate > > > On Mon, May 14, 2018, 3:21 PM RL <rlagg...@mail.com > <mailto:rlagg...@mail.com>> wrote: > > I have two bank accounts on which I regularly write checks to transfer > amounts between them. Downloading the ofx files from each bank, I have, > for those checks, transactions with different (correct) dates in each GC > account which represent the left and right side of the same accounting > transaction. For purposes of reconciling against the bank statements, > these dates must remain different in their separate GC accounts, even > though they are opposite ends of the same accounting transaction. > > GC wants to make the balancing transactions in each GC account one > single identical transaction (except for the proper credit/debit column, > depending on which account I'm looking at). I don't see how to work this > and maintain both accounts true to their source, the bank transactions. > The date is also important because at times it matters when a check was > cashed and when it was payed by the originating bank; there needs to be > an accurate record of this. An additional, maybe lesser, problem is that > GC's methodology makes the transaction number the same in each GC > account. Since the trans number is one of the most easily noted text > fields, I have been using it to quickly/easily identify "deposits" - but > this won't work if I want to retain the check number in that field (very > important). Also, a check number on a deposit line doesn't seem > particularly proper. > > How is this handled in GC? > > > Thanks > Rufus > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org <mailto:gnucash-user@gnucash.org> > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
