Just a quick one Manager Server Version : 22.8.16.291 Payments processed and set to be cleared “On a Later Date” with a future date selected do not show up under Bank Accounts “Pending withdrawals”.
“Pending deposits” also have the same problem. Please solve as this messes with "Cleared balance’.
This has always been the case, once cleared it’s not pending anymore. This is because the tab listing is current and isn’t bound by dates.
Also, the date field is set to capture the actual date the bank appears on your bank statement, so setting this field to a date in the future makes no sense.
Try removing expected bank date and see if the issue persists.
OK I find the following:
Essentially I read if a future date is selected for clear date, the expectation is the transaction will be “pending” up until that date. Maybe I am wrong.
@compuit, you ask, “So what is the point of having ability to speciify date if it does not work?” But it does work as designed.
You must understand that clearance dates and status are used by the program only for bank reconciliation purposes. The developer recently announced that he believes most users import their bank statements. By definition, all deposits and withdrawals listed on a bank statement were cleared on the date they were entered, because that is when they were presented to the bank and entered into the bank’s records. Only a manually entered transaction can be cleared on a later date. So clearance On the same date is the default entry.
Therefore, if clearance is set On a later date, the transaction will show in the tab listing as as pending deposit or pending withdrawal. But once you enter a date, whether past, present, or future, the program no longer reports the status as Pending. You can see how this works by performing a partial Batch Update on receipts or payments. There is a variable, BankClearDate. The content in that column is never Pending or Cleared. Instead, that field is either blank or contains a date. If it is blank, the Bank and Cash Accounts tab listing reports the transaction as pending (if the box to indicating the account can have pending transactions has been checked). If there is any date, that transaction is not reported as pending.
The way to think of pending transaction listings is not whether the transaction is Cleared or Pending. You should instead consider the transaction to be not pending (a BankClearDate exists) or pending (a BankClearDate does not exist). The fact is, you are entering false information if you indicate the transaction will clear On a later date and enter a future date. You do not know for certain if the transaction will clear on that date. You are guessing.
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That is correct so why does the program prompt for a date when clicking on “cleared on a later date”. I agree with you that one should not enter such so why is it not removed?
We frequently list a transaction as pending until we review our SMS notifications or bank statements for the month and can return to edit the transaction, entering a reference code and setting a cleared date, which in many cases is on a later date from the transaction.
Remember, the “later date” might not be in the future. In fact, as @Tut said, you shouldn’t be entering it if it is in the future, as it hasn’t occurred yet. So you would only really use this field when you are editing the transaction some time after it has occurred. For example, when you are reviewing bank statements at the end of the month and now have access to the transaction reference codes and clearing dates.
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Ok, I understand your explanation of still having a date even though clearing happened already and could just be recorded as such. Also you should then not be allowed to check a future date.
The word pending means it still has to happen and that would imply in future. To avoid this happening something needs to be changed as one can enter a future date without warning while it would be wrong to do so. We should try to avoid possible mistakes in accounting as they may multiply and source of problems may be unknown.
Let me be clear, @eko. I explained how the program’s current design works. But I did not say I like the approach. In fact, I do not, because the nature of my businesses makes it inconvenient to use bank imports. So virtually all of my transactions are entered manually as they occur. I preferred the previous implementation. The new implementation is not inconvenient, though, because I would never enter a future clearance date.