Actual Date vs. Post Date

Actual Date vs. Post Date

Post by Hubenschmidt Famil » Tue, 15 Apr 1997 04:00:00



Damned if I know, it drives me up the wall too!!!



Quote:

> How do people deal with the difference between the time a transaction
> actually occurs and the time it posts to your account?  I find this
problem
> an annoying short-coming of most personal finance software.

> For example, I have a checking account and a cash account.  If I take
money
> out of an ATM on Friday, it usually doesn't post to my checking account
> until Monday.  When I withdraw cash from an ATM I enter it as a
"transfer"
> from my checking account to my cash account.  If I date the transaction
in
> MS Money as occuring on Monday, I will get a negative balence in my cash
> account if I happen to spend any of that money over the weekend.  If I
date
> the transfer on Friday, the transaction does not match up with my
statement
> from my bank.

> I find this type of problem happens frequently with all sorts of cash,
> checking, loan, and credit card transactions.  I always find myself at
odds
> deciding whether to enter a transaction on the date it accutally occurred
> or when the bank or credit card company record it.  It certainly makes it
> difficult to keep track of things, especially it you are working with a
lot
> of transactions.

> Does anyone have a good stategy for dealing with this?

> Thanks,
> Dominic

 
 
 

Actual Date vs. Post Date

Post by Dominic LoTempi » Wed, 16 Apr 1997 04:00:00


How do people deal with the difference between the time a transaction
actually occurs and the time it posts to your account?  I find this problem
an annoying short-coming of most personal finance software.

For example, I have a checking account and a cash account.  If I take money
out of an ATM on Friday, it usually doesn't post to my checking account
until Monday.  When I withdraw cash from an ATM I enter it as a "transfer"
from my checking account to my cash account.  If I date the transaction in
MS Money as occuring on Monday, I will get a negative balence in my cash
account if I happen to spend any of that money over the weekend.  If I date
the transfer on Friday, the transaction does not match up with my statement
from my bank.

I find this type of problem happens frequently with all sorts of cash,
checking, loan, and credit card transactions.  I always find myself at odds
deciding whether to enter a transaction on the date it accutally occurred
or when the bank or credit card company record it.  It certainly makes it
difficult to keep track of things, especially it you are working with a lot
of transactions.

Does anyone have a good stategy for dealing with this?

Thanks,
Dominic