Transfers Between External Accounts

Allen118

I am running into an issue with transfers between external accounts, specifically the dates each transaction posts in each account respectively. My transfers are categorized as transfers but communicate the account they came from or are going to. Example [Checking], [Savings], etc. Pretty standard. My issue is that a transfer going out will post on the day it is executed, say on the 17th. The account receiving the transfer will post the date it cleared, say the 22nd. However, because my transfers are linked between each respective account, changing one date changes the other, but this is not what is reflected on my statements and I cannot figure out how to keep the transfer between accounts linked while showing the dates each account's statement shows. Help!

volvogirl

You need to run them through holding account.  Set up a new account called Funds in Transit.  Then transfer the money into it.  then when it posts on the other account, transfer the money out of the holding account to the receiving account.

volvogirl

You need to run them through holding account.  Set up a new account called Funds in Transit.  Then transfer the money into it.  then when it posts on the other account, transfer the money out of the holding account to the receiving account.

Allen118

@volvogirl

I created a manual checking account titled Funds in Transit. When transferring the dollars into said account, it shows that I am transferring the funds into the Funds in Transit account. I would prefer the register communicate the actual account the funds are going to not the fictitious Funds in Transit account. Does that make sense? I am not having luck with this solution. Maybe I am not understanding you.