Different dates for the same transaction

alan's Avatar

alan

11 Oct, 2018 01:13 AM

I would like to suggest a feature that allows for different dates of the same transaction / transaction ID. The primary use case for this is with credit card payments from a checking type account (or similar loan payments).

For example: I pay my credit card bill on 10/10. The bank doesn't post the transaction until 10/12. I'd like the dates to reflect properly to match the statements in each account. Currently, the linked funds transfer transactions have to have the same date. Can you create a transaction ID for them that allows them to have a different date displayed in the different accounts?

  1. 1 Posted by dwg on 11 Oct, 2018 08:18 PM

    dwg's Avatar

    I'm a fellow user.

    Moneydance is built using accounting principles. What you are asking for violates one of the core principles. Using your example you want monies taken out of an account on the 10th then disappear only to reappear again on the 12th, so the funds become unaccounted for for a couple of days.

    I understand you want the dates to match between Moneydance and the bank statements but to do so you have to use accounting methodology to duplicate what is happening in the banking system. Fortunately Moneydance is flexible enough to do this.

    To achieve the goal I would create an additional Asset account called Transits. In your chequing account I would enter the transaction on the 10th but credit the transit account with the proceeds, thus mimicing that the money is going through the bank clearing and transfer systems.

    On the 13th enter a transaction to credit the money to the Credit card account drawing on the transit account, thus indicating the money has come out of the banking system and is now in your account.

    Using this type of method ensures that the funds are accounted for, it also means that say you ran a Net Worth report on the 11th it accurately reflects your position.

  2. System closed this discussion on 10 Jan, 2019 08:20 PM.

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