Hi Pete, Wondering if you could give me some advice? I’ve imported some transactions from my bank account and am trying to reconcile them But I have to record bank transfers in from yet another account and I would really rather avoid that. is there any other way of reconciling payments? Apart from invoice (they weren’t sales) and transfers

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Hi Pete, Wondering if you could give me some advice? I’ve imported some transactions from my bank account and am trying to reconcile them But I have to record bank transfers in from yet another account and I would really rather avoid that. is there any other way of reconciling payments? Apart from invoice (they weren’t sales) and transfers

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Peter Connor ⋅ Staff August 15, 2016
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Hi,
So you want to reconcile a bank transfer? 
This bit here has thrown me off though. If it’s just a bank transfer let me know. 
“But I have to record bank transfers in from yet another account and I would really rather avoid that”

#answer-3901
  1. alan.j.bissell15 August 15, 2016
    Ok, so I have three accounts: Two of which are in bullet and another rent account I'd rather not have to manage as it it gets payed into by my flatmates etc.
  2. alan.j.bissell15 August 15, 2016
    However when reconciling the two other accounts (personal current and business current a/c's) I have money coming in from the third account that I don't know how to record basically
  3. alan.j.bissell15 August 15, 2016
    Also, I am on a welfare back to work scheme that means I retain some social welfare payments while I start up the business and I have no idea how to record them either..
  4. Peter Connor August 15, 2016
    So your flatmate is paying you rent from the 3rd account (his) and you don't know how to record that in Bullet?
  5. alan.j.bissell15 August 15, 2016
    Ha ha! Not quite. The account is in my name but my two flatmates also pay into it. At times I move money around between the accounts, and these appear as money in in bullet, but I can't record them as a bank transfer without creating another bank account to record them from
  6. alan.j.bissell15 August 15, 2016
    if you get me...
  7. alan.j.bissell15 August 15, 2016
    Sorry! ;)
  8. alan.j.bissell15 August 15, 2016
    So bullet thinks I'm getting these payments, but I'm actually just moving in money from another of my accounts that isn't on bullet.
  9. alan.j.bissell15 August 15, 2016
    Yet I can't put them down as a bank transfer without having another bullet account to attribute it to
  10. Peter Connor August 15, 2016
    Ok so Bullet's looking to for the 2nd account or donor account in this case. I think that might be a journal entry but I'll have to ask.
    From an accounts point of view it would be easier to remove this from your accounts and get them to just pay it directly into your landlord's account, or another account just for rent. Maybe a https://www.paywithfire.com/ account.
    This money has nothing to do with you, so you're hacking your accounts. I'll find out more for you on it though.
  11. Peter Connor August 15, 2016
    "Also, I am on a welfare back to work scheme that means I retain some social welfare payments while I start up the business and I have no idea how to record them either.."
    I'll have to find out about this also - but I think it might be a question for your accountant. We can't advise on accounts as we're not accountants.
    Anyway I'll get a better update on both for you.

    Thanks Pete
  12. alan.j.bissell15 August 15, 2016
    Ok no worries, I appreciate that anyway. I kind of thought I should probably speak to a pro at some stage anyway.
  13. alan.j.bissell15 August 15, 2016
    Thanks Pete.
  14. Peter Connor August 15, 2016
    Cool - the key thing Alan is always keep it simple. Sometimes moving earth is the easiest way to do things. But, I'll get back to you.
  15. alan.j.bissell15 August 15, 2016
    Cheers Pete.

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