Import transaction to interaccount transfer

1

Please can my idea be considered.
When a transaction is imported and suspended, please can an option be incorporated to convert it to an interaccount transfer (IAT) for final clearance if need be. Think of it as a type of bank rule, maybe?

Or a conversion feature that will convert any transaction to an IAT.

Thanks for doing a great job.

Martyn

2

For imported bank transactions which relate to inter account transfers, you need to create a Bank Rule which posts to a Transaction Clearing Account.

3

Isn’t that happening with the IAT anyway? Thought it would tidy it all up with everything under one roof.

I’ve been doing as you have suggested for quite a while following advice given in a previous thread- probably from your own good self!
Thanks

4

No, a IAT eliminates the opposing debit / credit from each of the receive / spend transactions (the Transaction Clearing account leg) so that the IAT becomes a merged receive / spend transaction - one instead of two.

5

I’ll take your word for it. Taking from one account and giving to the other seems to be a feature in common.

6

The difficulty with what you suggest, @muffin, is that statement imports and bank rules apply to a single bank account. An inter account transfer involves two. Within any single financial institution, such transfers could be reported identically, even if they involve different source or destination accounts. So the program might not be able to determine which other bank account is involved. Then you have only half the process automated. And you cannot design the process with the assumption that a user will also import the other bank statement to pick up where the first import left off.

And when separate financial institutions are involved, inter account transfers may not be identifiable as such. Or perhaps the second account does not even allow statements to be exported for import. Imagine, for example, what happens when you pay off a credit card at one institution with an online cheque from another. In Manager’s lexicon, that would be an inter account transfer. But you probably cannot export the credit card statement in bank statement format.

In other words, the possibilities for incomplete transactions are just too great.

7

Thanks for the detailed explanation. I fully appreciate the problem with
my suggestion.

Thanks