Is there a way to add an extra field to the “transfer money” section from one cash account to another?
Please advice, Thankyou
No. But you can put extensive descriptions in. And that field will accept HTML code. What are you trying to enter that could not go into the description field? Remember, a transfer is a purely internal transaction and is not provided to anyone.
Thank you for the feedback Tut
I have created a separate account to keep track of all dis-honoured checks, i’d prefer if i can keep tabs (customer names) on all the checks i’ve received in this category until i get them cleared (repaid)
Yes. Don’t do it the way you are. You have already entered the received money, which should have been categorized as pending because it has not cleared the bank. So the
Pending deposits column in the
Cash Accounts tab already tracks these cheques. Entering them anywhere else fouls up your books. If the cheque ultimately becomes uncollectible, then you have a bad debt to write off as an expense. But until then, it is just a pending deposit.
When the bank dis-honours a check, do they put a reversal entry on to your bank statement.
If yes, then you can’t leave a check as pending (outstanding deposit) as it has been “repaid” by the bank against the deposit.
You need to do a Spend Money with allocation to Dis-honoured Check Clearing. In the description field you can enter the Customer details. When the check is replaced - Received Money with allocation to Did-honoured Check Clearing, so it cancels out the previous entry.
Transfer Money can’t be used as you are not transferring between “cash” accounts.
No, I have a separate account created just for returned checks, once i receive the payments i credit the payment in the “Return Checks” account. this is nothing but to keep track of the total number of Return checks i have (and value) so that i can recover and less them as and when i get them!
Same thing - Returned Checks = Dis-honoured Check Clearing