Transfers and reconciliation of transactions.

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5 posts
Transfers and reconciliation of transactions.

sibri
New MMEX User

Posts: 2
Joined: Thu Jan 22, 2015 6:46 am
Grateful to hear comments about reconciliation of bank statements where there have been transfers between accounts.

I am new to Money Manager EX, having previously used Quicken.  In Quicken, when I made purchases with a credit card they would be recorded as expense transactions under their appropriate categories and when I subsequently paid a credit card statement at its due date that transaction would be recorded as an inter-account transfer from my current (or checking) bank account to my credit card account.  I would then reconcile each institution's account statement as it was issued against my Quicken records, marking the matching transactions as reconciled.

However if I replicate this procedure in MME and record a payment from my bank account to the credit card account as a transaction type "Transfer", the problem arises that if I mark that transaction as "reconciled" in one account it is automatically marked as reconciled in the other as well.

As I have several accounts with different financial institutions whose statements are issued at differing intervals and on on widely different dates, this means that reconciling my MME entries against statements issued by one bank will result in transfer transactions appearing to have been reconciled in an account where the statement for that account will not in fact be received until some future date and cannot therefore be reconciled against that account.

I would expect the reconciliation of amounts transferred from one account to another to be independent of each other, because each account will have its own statement against which that account's transactions should be reconciled at its statement date.   Am I missing something?

sibri 
Re: Transfers and reconciliation of transactions.
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bobzr
New MMEX User

Posts: 2
Joined: Sun Jul 05, 2015 2:42 pm
I was about to submit the same issue, and I found this post from January.
I'm using MMEX 1.1.0 in Linux Mint Rafaela.
MMEX is great, but please devs fix this issue, transfers should not be reconciled automatically in both accounts, each entry should be obviously reconciled manually for each account.
Should this be reported as a bug?
Re: Transfers and reconciliation of transactions.

dzalcman
New MMEX User

Posts: 4
Joined: Fri Sep 04, 2015 11:24 pm
Hi Sibri, just wondering how you've resolved this problem?  I am new to MMEX, and really like it, but I'm having exactly the same concerns with regards to reconcilations that involve transfers between accounts.
Any advice would be greatly appreciated.
Re: Transfers and reconciliation of transactions.

sibri
New MMEX User

Posts: 2
Joined: Thu Jan 22, 2015 6:46 am
Hello dzalcman & bobzr,  just seen your posts.  As far as I can see, the developers have said in response to a more recent thread about this that they think it's difficult to implement, so don't expect any result anytime soon. :o

Maybe I've misunderstood their position - I sure hope so!

The only workaround I can see - which is very unsatisfactory and negates the whole purpose of having a Transfer category to use - is to record the transaction not as a transfer but as two seperate transactions consisting of a withdrawal in one account and a deposit in the other and then reconcile them seperately.
Re: Transfers and reconciliation of transactions.

Nikolay
MMEX Developer

Posts: 1163
Joined: Sat Dec 06, 2008 8:27 am
Location: Sankt-Petersburg, Russia
I think it should be possible to create a transfer from one account as X -> 0.
And second transaction as 0->X.
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