Reflecting money transfers which take several days to complete

[strikov...@gmail.com]

Hi everyone,

Suppose I have an account  in an US bank and I want to transfer funds into this account from another account in a Japan bank. When I do such transfer my Japan bank would deduct funds almost immediately, but they won't appear in US bank on the same day. Usually it takes almost business days to compeltely process transfer and credit my account the US bank.

How should I reflect such money transfer in my journals?

-- 

Thanks

[Cheng Zhen]

Maybe you can set up a new account for transfer.

like this,

2017-04-01 * "" ""
    Assets:Savings:US -100.00 USD
    Assets:Savings:Transfer
2017-04-11 * "" ""
    Assets:Savings:Transfer -100.00 USD
    Assets:Savings:JP

Cheng Zhen

http://wogong.net/

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[Martin Blais]

As Cheng mentions, using a transfer account would be the correct thing to do.

Or if you don't have many balance assertions, fudging the date (using either the outgoing or incoming date in a single transaction) works too. That's what I do most of the time.

There have been many discussions in the past about implementing a plugin with two dates, one that would automatically select a transfer account and split a transaction declared with the two dates into two transactions.

[Dominik Aumayr]

I came up with a quick-and-dirty implementation of the plugin @blais mentioned:

https://github.com/beancount/fava/pull/522

With this plugin, the following transaction:

plugin "fava.plugins.settlement_date" "Assets:Savings:Transfer"

2017-04-01 * "" ""
Assets:Savings:US -100.00 USD

Assets:Savings:JP
settle: 2017-04-03

becomes

2017-04-01 * "" "Doing some saving transfers" ^settle-43be1c

Assets:Savings:US -100.00 USD
Assets:Savings:Transfer

settle: 2017-04-03

2017-04-03 * "" "Settle: Doing some saving transfers" ^settle-43be1c

Assets:Savings:Transfer -100.00 USD

Assets:Savings:JP 100.00 USD


There are no tests, and the code is quite a mess, but it conveys the point. Comments (and contributions) very welcome, either here, or in the PR.

- Dominik

> Am 11.04.2017 um 04:34 schrieb Martin Blais <bl...@furius.ca>:
>
> As Cheng mentions, using a transfer account would be the correct thing to do.
>
> Or if you don't have many balance assertions, fudging the date (using either the outgoing or incoming date in a single transaction) works too. That's what I do most of the time.
>
> There have been many discussions in the past about implementing a plugin with two dates, one that would automatically select a transfer account and split a transaction declared with the two dates into two transactions.
>
>
>
>
> On Mon, Apr 10, 2017 at 1:55 PM, <strikov...@gmail.com> wrote:
> Hi everyone,
>
> Suppose I have an account in an US bank and I want to transfer funds into this account from another account in a Japan bank. When I do such transfer my Japan bank would deduct funds almost immediately, but they won't appear in US bank on the same day. Usually it takes almost business days to compeltely process transfer and credit my account the US bank.
>
> How should I reflect such money transfer in my journals?
>
> --
> Thanks
>
>
> --
> You received this message because you are subscribed to the Google Groups "Beancount" group.

> To unsubscribe from this group and stop receiving emails from it, send an email to beancount+...@googlegroups.com.

> To post to this group, send email to bean...@googlegroups.com.
> To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/2710df42-18f4-47f1-b45d-67516ab997d9%40googlegroups.com.
> For more options, visit https://groups.google.com/d/optout.
>
>

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[redst...@gmail.com]

See:

https://github.com/redstreet/beancount_plugins_redstreet/tree/master/zerosum

The plugin itself might need to be updated to work with the latest beancount, but the method of accounting used is designed exactly for your case.