Bank Statement Import and Inter Account Transfers

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I have 2 bank accounts setup in Manager:

  1. Business account (for receiving Sales Invoice payments and paying internet, phone, web hosting etc.)
  2. Personal account (I have a personal Credit Card that I use to pay when ever I can for frequent flyer points)

Whenever I’ve used my personal CC for a project, I create a Expense Claim with all the separate payments, Select an Expense Claim Payer at “Paid by” and create an Inter Account Transfer and transfer the money to my personal bank account using online banking. (Hoping this would be the right way to keep record of these transactions.)

I started creating manual records of Receipts and Inter Account Transfers transaction. I was not sure yet how to record the payments in a efficient way and then found the bank statement import function.

I downloaded a MT940 file ans imported it to my business account in Manager.

Before the import, I created 7 Inter Account Transfers transactions, but there were 8 in the import (forgot one). Somehow Manager was able to match the 7 transactions the the Inter Account Transfers transactions (I think, since I do not see them at Payments). The 8th transaction I do see at Payments at the Suspense account.

I was wondering how Manager does make the match between the Inter Account Transfers transactions and the transactions from the import? I tried removing the one transfer from Payments, created a new Inter Account Transfer and did a new import. But is is still not matching that 1 transaction. (I just read older posts from 2018 and 2020 stating they are not matched. But the fact that I can’t find those 7 transactions at Payments it looks like the current version of Manager does make a match.)

Another question:
After the import, the description field of the payment contains a lot of user “unfriendly” text. Is there something I need to change to the formatting of the MT940 file before importing, is there some sort of a filter I can apply to strip the description from the “user unfriendly text” or is it just the way it works?

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See Ability to convert two transactions to a Inter Account Transfer - #11 by Patch

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All your questions are moot, because your personal credit card has no place in your business accounting records. File the expense claims, then use a payment to reimburse yourself.

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Adding the personal credit card as a Bank Account was suggested by someone in my previous post. I’ve removed it and will just use the expense claims. Thank you.

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@82OAwnLgXWm5gGbxHQO3, I read your previous posts. The suggestion to set up your credit card as a bank account probably overlooked your initial statement that you were referring to a personal credit card. The response you refer to was focused on the mechanics of transactions, not the basic accounting setup.

Your issue seems to be your desire to claim frequent flyer points. There is no reason that cannot be done with a business credit card or a personal credit card reserved for business use. In that case, you can set up the credit card as a bank account in Manager. The point is not to mix business and personal purchases on the same credit card. If you are going to mix uses, then you need the expense claims.

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Some businesses which operate as a “sole trader” do us a single physical bank account for both business transactions and personal transactions.

Imo doing so is technically correct but it means all individual transactions in that account must be later separately classified as allowed or not allowed to be claimed as legitimate business expense to your tax authorities. The non claimable expense then must be shown below your taxable income in Managers income/expenses in the chart of accounts (or directly to the “Owners equity” account Set up business as a self-employed services provider | Manager )

So while I believe it can be done, doing so is more work than it’s worth imo.

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