I have payments and receipts that has a future clearing date. I noticed that my bank balance have already added/deducted the same amount even before the arrival of the clearing date.
Is this a bug? or did I do something wrong?
I have payments and receipts that has a future clearing date. I noticed that my bank balance have already added/deducted the same amount even before the arrival of the clearing date.
Is this a bug? or did I do something wrong?
Hello,
What is the source of this bank balance? Is is the bank or is it Manager?
In case it is Manager, please share a screenshot showing the breacrumbs (address & title) of the screen you are getting this balance from.
It is not a bug. This is how it is supposed to work.
Your bookkeeping accounts should always present it how it is according to your situation - not as it is in your banks books, in the same way that the bank will show a deposit by you as a credit but in your books it will be a debit.
Just as I suspected you were using Actual balance
,
Actual balance is your “book balance” or more precisely “actually available balance” since you cannot overdraw this balance even if the cheques weren’t cleared.
If you want to view your bank balance from within Manager, you should instead drill down to Cleared balance
column which will show the bank transactions when they get cleared.
If you don’t have the column Cleared balance
visible, you can go to Bank and Cash Accounts > Edit Columns and make it visible from here.
This is the thing I also wonder. Cleared balance is just the same with the actual one.
This is what I suspected as well but it kinda defeats the purpose of having a “clearing” feature if at the moment of the transaction, the balance also updates regardless of the clearing date.
I’m aware that this is kinda normal and this is also the very reason there’s a bank recon. But then again, I’m just wondering why is still there a “clearing” option.