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Author
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Topic: transfer clearing acct problem
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Jim Watson
Member
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posted 12-28-2005 01:32 PM
 
i entered a transaction in the transfer activity screen in one of my public securities accounts and finnav without my knowledge created the transaction to "transfer clearing account" even though the the account still reads "Euro July 05." i was only aware of this when i ran the transfer clearing account report. i went back & deleted the entry and it still shows up in my report. how do i get this deleted completely? i was informed that i can use the options button to turn this off by selecting "none" but it looks like it's not retroactive.
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fni_support
Moderator
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posted 12-29-2005 02:41 PM
Hello Jim,First, let me make sure I understand the situation correctly: In journal A you made a transfer to journal B. Since the Transfer Clearing Account was enabled under Transaction Activity Options this created two entries: 1) one entry in journal A and 2) one entry in journal B. The Transfer Clearing Account is used as the intermediary account to facilitate this transfer. The Transfer Clearing Account takes an amount from one account and gives it to the other account involved in the transaction. If you would like to reverse this transaction, you have to delete BOTH entries in BOTH journals. It sounds like you only deleted the entry in journal A. Delete the entry in journal B. Sincerely, George
FNI Tech Support [This message has been edited by fni_support (edited 12-29-2005).]
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FN_User
Member
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posted 01-07-2009 03:17 PM
Posting an entry with transfer clearing account goes automatically on the other side. To delete the same entry, we need to go to the other side to delete it there also. What makes deleting entry different than posting it?
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David
Administrator
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posted 01-07-2009 03:18 PM
Navigator has a special routine that changes the account to Transfer Clearing and then creates a separate, new transaction from Transfer Clearing to the account on the other side. These to transactions may be linked logically to us humans, but to the software there is no connection between the two. So if you change the date or amount in one, the other does not change. Likewise, if you delete one the other is still there. Part of this is intentional. For instance, you may write a check to pay off a credit card on 1/1/09, but the payment does not post on the credit card statement until 1/10/09. You can assign different dates to each transaction to reflect this if you want. But I agree that it would be nice if deleting one transaction deleted the other, or at least gave you a message with the option to do so. I have submitted a feature request to the developers to see if they can add this.
Meanwhile, you should do two things:
- Let everyone know that they have to manually delete both transactions when dealing with Transfer Clearing Account.
- Run Transactions by Account for the Transfer Clearing Account frequently, especially as you are closing a month. Verify that the ending balance is zero. If it isn’t, most likely there is a one-sided transaction that needs to be deleted.
- David
FNI Technical Support[This message has been edited by David (edited 01-07-2009).]
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