Bank Import and Bank Transfers

According to this guide - Post inter account transfers from imported bank statements | Manager

I need to create a “clearing account”. Does it make any difference if I use the same clearing account for four bank accounts so I can transfer between all four of them?

I have created one Transfer Clearing Account and used this for the bank import rules. So far, it seems to be working correctly. I will come back to this question if some issue crops up.

No, it does not. Several extracts rom the Guide:

“Theoretically, since the net effect of an inter account transfer leaves the clearing account with a zero (or undisturbed prior) balance, any account could be used…”

“Likewise, if a clearing account exists for some other purpose, it could be used…”

“When importing bank statements, post all transactions related to inter account transfers to the same clearing account…”

Thank you for confirming that. I just wanted to make absolutely sure that I had got it right as it’s a lot easier to fix it today with a couple of transactions than fix it six months later with dozens of transactions!