I’m sad

Journal entries against bank accounts not reflected in Banking

Edit Subject

I've just noticed that if you create a journal entry with a debit or credit against a bank account, even though this shows up correctly under "Show transactions", it does not appear under the Banking section meaning the account balance is wrong.

This doesn't seem like what you'd expect, I'd expect the journal entry to show up.

7 people have
this problem +1

In progress

EMPLOYEE

0

Edit

Delete

Remove

Official

Ed Molyneux (CEO) May 27, 2009 22:50

Luke,

You're right. We're progressively incorporating journal entries into our views (they're dealt with differently) and we've not got round to the bank statement ones yet.

We didn't think it's a particularly common scenario, but it's something we know we need to tie up soon.

Comment

good solution! good solution! (undo)
- Cancel
Edit Your Reply (some HTML allowed)
Has the status changed?

Luke, You're right. We're progressively incorporating journal entries into our views (they're dealt with differently) and we've not got round to the bank statement ones yet. We didn't think it's a particularly common scenario, but it's something we know we need to tie up soon.

How does this make you feel? Add Image

I'm
e.g. happy, confident, thankful, excited sad, anxious, confused, frustrated kidding, amused, unsure, silly indifferent, undecided, unconcerned
Cancel
I’m frustrated

0

Edit

Delete

Remove

Official

Luke Redpath July 23, 2009 12:39

Is there any update on this problem? I've run in to it again its really quite annoying; I've paid myself a dividend of £2000, £300 of which needs to be paid off against the outstanding balance of the director's loan account, and the remaining £1700 transferred to my personal bank account.

As a journal entry, this works fine:

DR Dividends £2000
CR Bank Account £1700
CR Director's Loan Account £300

The dividend voucher is generated correctly and everything shows fine under Transactions but crucially this means my bank balance under Banking is completely wrong.

Comment

good solution! good solution! (undo)
- Cancel
Edit Your Reply (some HTML allowed)
Has the status changed?

Is there any update on this problem? I've run in to it again its really quite annoying; I've paid myself a dividend of £2000, £300 of which needs to be paid off against the outstanding balance of the director's loan account, and the remaining £1700 transferred to my personal bank account. As a journal entry, this works fine: DR Dividends £2000 CR Bank Account £1700 CR Director's Loan Account £300 The dividend voucher is generated correctly and everything shows fine under Transactions but crucially this means my bank balance under Banking is completely wrong.

How does this make you feel? Add Image

I'm
e.g. happy, confident, thankful, excited sad, anxious, confused, frustrated kidding, amused, unsure, silly indifferent, undecided, unconcerned
Cancel
EMPLOYEE

0

Edit

Delete

Remove

Official

Olly (CTO) July 23, 2009 14:36

Hi Luke

We're looking into this now, hopefully we can have it resolved before the next release, but definitely by the following one if not.

good solution! good solution! (undo)
- view 1 more comment
- Active Moves March 10, 2011 15:50
  
  Hi Olly
  
  Has there been any update on this problem. Some amounts were posted to the wrong bank account and that period is closed off. I have created a journal which now puts it into correct bank account but it is still only showing up under 'Show Transactions' and not in the actual bank account. Is there a date on a fix for this problem?
  
  Thanks
  
  Edit
  
  Delete
  
  Remove
- Cancel
- Vizioz April 17, 2011 17:33
  
  Hi Olly / Ed,
  Has there been any movement on this, I have the same issue as "Active Moves" which now means my commercial card is always showing an incorrect balance which is very frustrating!
  Cheers, Chris
  
  Edit
  
  Delete
  
  Remove
- Cancel
- This comment was removed on 2011-07-24.
  see the change log
- Cancel
Edit Your Reply (some HTML allowed)
Has the status changed?

Hi Luke We're looking into this now, hopefully we can have it resolved before the next release, but definitely by the following one if not.

How does this make you feel? Add Image

I'm
e.g. happy, confident, thankful, excited sad, anxious, confused, frustrated kidding, amused, unsure, silly indifferent, undecided, unconcerned
Cancel
EMPLOYEE

0

Edit

Delete

Remove

Official

Ed Molyneux (CEO) July 27, 2009 22:24

Luke,

Would it not be possible to explain the £1,700 transaction as a Dividend Declaration of £2,000, leaving a £300 Payment to Director's Loan account (i.e the opposite sign: Money In) explanation against the remaining unexplained amount?

That's the way we designed FreeAgent to handle this sort of thing (but which we've not explained well in the app, I agree). You can 'under-' and 'over-explain' transactions as long as the overall value of the explanations adds up the the same as the source transaction.

Does that make sense?

(we're still moving towards including journal entries in the bank statement views but since there's no way of tying them up as explanations for transactions it may be of little use to you. We'd rather make it really flexible to assign explanations to any kind of account, with any sign, which again we're needing to implement)

Comment

good solution! good solution! (undo)
- Cancel
Edit Your Reply (some HTML allowed)
Has the status changed?

Luke, Would it not be possible to explain the £1,700 transaction as a Dividend Declaration of £2,000, leaving a £300 Payment to Director's Loan account (i.e the opposite sign: Money In) explanation against the remaining unexplained amount? That's the way we designed FreeAgent to handle this sort of thing (but which we've not explained well in the app, I agree). You can 'under-' and 'over-explain' transactions as long as the overall value of the explanations adds up the the same as the source transaction. Does that make sense? (we're still moving towards including journal entries in the bank statement views but since there's no way of tying them up as explanations for transactions it may be of little use to you. We'd rather make it really flexible to assign explanations to any kind of account, with any sign, which again we're needing to implement)

How does this make you feel? Add Image

I'm
e.g. happy, confident, thankful, excited sad, anxious, confused, frustrated kidding, amused, unsure, silly indifferent, undecided, unconcerned
Cancel
I’m unsure

0

Edit

Delete

Remove

Official

Emz September 21, 2009 10:36

Hi
I too have this problem as I reduced a bill payment to a supplier as the had an opening debtors balance. So I journalled the difference and it makes my bank balance wrong! Help.
I know this is not meant to be an accounting software first and foremost but as I am an "accountant" role for all my clients this is proving to be a tricky one to explain! Cheers Emz

Comment

good solution! good solution! (undo)
- Cancel
Edit Your Reply (some HTML allowed)
Has the status changed?

Hi I too have this problem as I reduced a bill payment to a supplier as the had an opening debtors balance. So I journalled the difference and it makes my bank balance wrong! Help. I know this is not meant to be an accounting software first and foremost but as I am an "accountant" role for all my clients this is proving to be a tricky one to explain! Cheers Emz

How does this make you feel? Add Image

I'm
e.g. happy, confident, thankful, excited sad, anxious, confused, frustrated kidding, amused, unsure, silly indifferent, undecided, unconcerned
Cancel
EMPLOYEE

1

Edit

Delete

Remove

Official

Ed Molyneux (CEO) September 21, 2009 10:41

Emz,

You should go back into that bank transaction, and explain it as the bill payment in full (which 'overexplains' the transaction, leaving an unexplained amount in the opposite direction) and then the balance as the payment against that initial opening balance.

Let me know that that works for you...

Comment

good solution! good solution! (undo)
- Cancel
Edit Your Reply (some HTML allowed)
Has the status changed?

Emz, You should go back into that bank transaction, and explain it as the bill payment in full (which 'overexplains' the transaction, leaving an unexplained amount in the opposite direction) and then the balance as the payment against that initial opening balance. Let me know that that works for you...

How does this make you feel? Add Image

I'm
e.g. happy, confident, thankful, excited sad, anxious, confused, frustrated kidding, amused, unsure, silly indifferent, undecided, unconcerned
Cancel
I’m a dummy!

0

Edit

Delete

Remove

Official

Emz September 21, 2009 10:49

Hi Ed
Sorry as soon as I pressed the button I realised I was being a moron and that the fab bank reconciliation tool that FA has means I didn't need to journal that! Doh!

Comment

good solution! good solution! (undo)
- Cancel
Edit Your Reply (some HTML allowed)
Has the status changed?

Hi Ed Sorry as soon as I pressed the button I realised I was being a moron and that the fab bank reconciliation tool that FA has means I didn't need to journal that! Doh!

How does this make you feel? Add Image

I'm
e.g. happy, confident, thankful, excited sad, anxious, confused, frustrated kidding, amused, unsure, silly indifferent, undecided, unconcerned
Cancel