Inter Account Transfers Query

[Ola]

Hi All,

We use Pastel Xpress V17. A while back I created a cash transfer account (9800/000) that I use when we transfer cash between our linked bank accounts. Among these are our credit card accounts. I transferred R10k from our business bank account to one of these credit cards via the transfer account, as a way to keep the money to one side and prevent us from using it for something other than the intended purchase. It worked out that we couldn't transfer the money back to our business bank account for payment to the supplier, and we were forced to make the payment to the supplier directly from the credit card account, as we were pressed for time. I am now capturing my credit card statements, and I am now unsure where to post the payment to? If I post it to the supplier account from the credit card in question, the supplier account will be 0, but the transfer account will still show the R10k. If I post the payment to the transfer account, the transfer account will be 0 but the supplier account will still show no payment... I'm so confused, I'm sure there's something simple I'm not thinking of here, please help???

[Neville Bailey]

Although you correctly allocated the payment from the business bank account to the transfer account, you still need to process a receipt in the credit card cashbook and allocate it to the transfer account. The transfer account will now have a zero balance.

You can then allocate the payment out of the credit card account to the supplier account.

[Ola]

Of course... I'm such an idiot! I was overthinking things again and lost sight of what I'm doing. I processed the receipt in the credit card cashbook (as per the credit card statement..) and when updating it, everything balances. I forgot that there would obviously be a receipt to be processed on the credit card cashbook which would be coming from the transfer account... Thank you so much Neville!