I do quite a lot of my admin over a weekend so I might “pay” an invoice using online banking but it will be recorded by my bank as going out of my account on Monday but I cannot enter the date it was paid as Monday because it is in the future. i.e. I pay an invoice today Sunday 22nd January but it will show on my online bank account as leaving the account on 23rd but I cannot date the transaction in QF as 23rd.
Is there anyway around this apart from going back in tomorrow to all the transactions I have entered over the weekend and change the dates?
Your bank statement only shows cleared transactions, not pending. QuickFile is designed to replicate this.
If a transaction didn’t clear or failed for some reason and you had entered it based on the online banking, then this would be incorrect and you would have to adjust it.
Ok I can live with it. Just not what I am used. I will just go in and alter the date after the event.
My perspective is that when I make an online payment it does clear (i.e. I would only be allowed to make the payment on Sunday evening 22nd January if I was in credit or inside my overdraft limit but it will show on my online banking with a date of Monday 23rd January.
So the transaction has already been cleared by the bank and I have never known a transaction to “fail”.
This means that there will be many more incorrect transactions (because I am obliged to enter the incorrect date) that I have to go back and adjust, than if I was able to enter a date in the future or if today’s date was a Saturday or a Sunday at least enter it as going out on a Monday.
That is just my view! I am a convert from QuickBooks, which of course works very differently (eg I can enter transactions in the future, create recurring transactions that start in the future etc) so I am just getting use to the QF way of doing things.
Hi,
there is a kind of work around but I am not sure if it would work for you because it is quite a bit of work to do. In your case it is just for one day and I am not sure if it would make more sense when you enter your weekend transactions/invoices just the next weekend?
For what I am speaking about is a auto-bank-feed required for your current bank account/credit card
Have a look here and read the post from Glenn:
Follow Glenn’s steps and when you are done got to your bank auto-tagging rules and create one as a transfer between accounts for that expected transaction in your bank account. Choose the holding account you created in Glenn’s steps as a corresponding account.
When the payment comes through to your bank account (via auto-feed) that rule creates automatically the tagged transaction between your current account and holding/clearing account.
I am a convert from QuickBooks, which of course works very differently (eg I can enter transactions in the future, create recurring transactions that start in the future etc) so I am just getting use to the QF way of doing things.