Bank transfer in future

I’m in the process of paying suppliers for future services within 30 days of invoice date ie 05/022014. I would normally pay by bank transfer with a value date of 07/03/2014. QF does not allow me to apply a future payment date or apply a future receipt date. Presumably there is a logical accounting reason for this?

You can schedule payment from your actual bank for future payment but not from any accountancy software, that will undermine the principles of accounting in terms of debtors and creditors for balance sheet as at today

The reason is because Quick File is built on a multi-currency foundation and although GBP to GBP is fine, it’s obviously not possible to allow future cross-currency transactions. Rather than have exceptions everywhere to handle this we just limit future transactions. Also @Accountant makes a good point about distorting ledger balances. In general it’s not good to post date transactions as they often don’t land on the exact dates you expect due to weekends and public holidays so you end up doing a lot of bank reconciliation later.

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