Reconciling transfers

LilladyvinylLilladyvinyl Member Posts: 9

Hello, I am trying to reconcile uncategorized transfer payments between my different bank accounts and for the most part it is really straightforward, but for some, the steps that I take do not work.
1) Click on one side of the transfer
2) select Bank Transfer from the dropdown
3) Select the corresponding transfer transaction
4 The uncategorized status is updated and both sides of the transfer show the to and from bank details.

When I look for the corresponding transfer transaction, it is either not shown at all, or an unrelated transaction is shown. Is there an easy fix for this? If I create a journal entry, then I will have duplicate transfer transactions AND a transfer created transaction.

Also, how can I undo, if I connect the wrong transfer transactions together? thanks

Comments

  • LilladyvinylLilladyvinyl Member Posts: 9

    Can any admins help with this please? Thanks

  • JordanFromWaveJordanFromWave Administrator Posts: 118 admin

    Hi @Lilladyvinyl typically, if the transaction does not appear in the drop down list, then it does not meet the criteria for a transfer. The transactions must be:

    • categorized to two different accounts
    • the same amount (ie. both must be $100)
    • Opposite in nature (one should be an expense and one should be an income)

    If one of these requirements are not met, then the transaction will not show up in the "Transfer To/ from" options. If you can provide screenshots of both transactions, this would allow me to further assist with next steps.

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