During the process of setting up and testing the Manager “Import Bank Statement” feature - I made a few test/dummy transactions between my personal account and my business trading account. Now each time I import my bank statement (OFX) I need to delete these test transactions. Not ideal, and perhaps I shouldn’t have created the test transactions in the first place.
Is there a way I can prevent these test transactions from being imported each time? Or can I assign them to a ‘nothing’ account?
create an account in Manager for your personal account and allocate the transactions to it with bank rules.
read the guides section regarding importing bank statements and bank rules.
With the accounts & transactions setup as per my previous post, and also assigning the transactions to a Capital Account - I have noticed that the Capital Accounts Summary is blank. This suggests that it is not set up correctly.
I have now removed the dummy transactions in my personal bank account, and simply assigned these dummy transactions (in my trading/business account) to the Capital Account. Now the Capital Accounts Summary is showing the values of these transactions correctly - balanced the drawings & funds contributed. This seems to be a better way to configure & log these dummy transactions.
Happy to be corrected on the above and look forward to hearing back.
These were not dummy transactions. They were real transactions between real bank accounts, so you cannot make them disappear from the bank records.
That depends on your bank’s export capabilities. Normally, you can define a date range for the export. There is no reason to export anything you have already imported to Manager. So unless your bank’s export routine is very primitive, you should only have to deal with problem created by your test transactions once.
You should not have done this, as you will be combining personal and business assets on your balance sheet. All transactions posted to this account should be deleted. Then you can delete the account.
This is correct only if appropriate for your form of organization. Assuming it is, deposits to your business account should be posted to Capital accounts => Your name => Funds contributed and withdrawals to Capital accounts => Your name => Drawings. See these Guides: https://guides.manager.io/8936 https://guides.manager.io/14397
Note that future contributions or drawings that involve your personal accounts should be entered, but the debits and credits will be balanced in your accounting records between the business bank account and your capital account. Your personal account will not appear in your accounting records, because they stop at the dividing line between business and personal assets. From your business’ perspective, it does not matter where the funds came from or went.
It sounds like you stumbled onto the correct methodology I described above on your own.
I really appreciate you breaking it down for me/us.
Upon further probing, my bank’s export feature is capable of exporting records within a date range (and other filters), so far I have been exporting my entire trading account’s statement and sorting it out in manager. Which I believe will work well, now that I have dealt with the test transactions.
