Hi Guys, loving your bank rec feature, life just got much easier! Question, I don’t seem to be able to find transfers in the rec list to match outgoing payments from an imported statement against?

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Hi Guys, loving your bank rec feature, life just got much easier! Question, I don’t seem to be able to find transfers in the rec list to match outgoing payments from an imported statement against?

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Peter Connor ⋅ Staff October 18, 2015
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Hi Shane,
The bank transfer will be in the list of “Money In” items if you’re reconciling the bank account to which the money was transferred in to, and in the “Money Out” list of items when reconciling the bank account from which the money was transferred from.
Peter

#answer-2116
  1. Shane D October 18, 2015
    OK, I must have missed them. Can you reconcile money in against money out in the same account?
  2. Shane D October 18, 2015
    Transfer or payments that have been reversed because they were incorrect for example..
  3. Shane D October 18, 2015
    The bank rec feature is really helpful though, great to be able to pull in the statements and reconcile automatically.
  4. Shane D October 18, 2015
    For example can you reconcile transfers in against transfers out?
  5. Shane D October 18, 2015
    Well, netting off would be a more correct term! Anyhow not one for a Sunday as suspect it will need journal entries. Thanks again.
  6. Peter Connor October 18, 2015
    At the moment, a "imported" bank statement line can only be reconciled against one item recorded in Bullet, so once you have recorded the transfer against an item in the bank account statement, you can't reconcile the transfer against anything recorded against the same bank account again. It's something we're looking into at the moment, but it's a current limitation, and might be why you're not seeing an item you expect to reconcile.
  7. Peter Connor October 18, 2015
    You can also reconcile journal entries too, so you could delete the bank transfer and re-record using journal entries if you found it easier to record something non standard.
  8. Shane D October 18, 2015
    Thanks
  9. Shane D October 18, 2015
    John
    Can you take a look at these, I am a bit confused!
    Example A shows a transaction from a statement that cannot be reconciled with the corresponding Transfer showing in the bank list.
    Example B shows a payment as having being made from an account but bank rec trying to find the reconciliation for it.
    Any thoughts?
    Shane
  10. Peter Connor October 18, 2015
    Hi Shane,
    I had a look at your account, and it's as I suggested before - you've already reconciled this item with the transfer on the (Money In) Okapio Ulster Bank account. So the bank transfer is considered "fully reconciled" from a bullet point of view (even though you should still be able to reconcile the "other" statement line - it's currently a quirk in Bullet). For now, you can skip over this entry, as you've already reconciled it on the ulster bank account side.
    John.
  11. Shane D October 18, 2015
    John,
    Ok, now I think i understand and it's compounded a bit because quite often we transfer from account A to account B then pay from B.
    Thanks again,
    Shane

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