Transfer from one bank to another

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Transfer from one bank to another

I have just imported a number of statements from multiple bank accounts but i didn't get any matches with regards to tranfers between accounts.

 

When allocating the transactions i just selected the other account from the list rather than using the transfer option (only because i didn't realise there was a transfer option)

 

What will this approach mean for account balances and reporting?

 

Is it necessary to fix these so they are transfers?

 

If so, is there a way to bulk c change them to a transfer i.e a rule or similar?

 

Thanks

 

Dean

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Re: Transfer from one bank to another

Hi @deanhowell 

 

When you get a bank transaction in you do have the option to allocate a transaction or generate a transfer money (or match to a transaction). From an account perspective, the allocate and the transfer money functionality is the same process. It basically enters the other side of the transaction i.e if you have a withdrawal in the account it would generate the deposit side. The only difference is the transaction that is created. When the allocation functionality is used a Spend/Receive Money transaction is used whereas with the transfer option a Transfer Money transaction is used.

 

If you have selected to allocate the transaction instead of doing a transfer that is perfectly acceptable from a reporting and accounts point of view. As such, I wouldn't want to be looking at updating those transactions.

 

Kind regards,
Steven

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