How can we improve PocketSmith?

Link both transfer transactions together

It would be useful to have the transfer transactions in each of the accounts affected be matched together, thus avoiding need to categorise each of the transactions manually and also for them to be grouped together on the Transactions page.

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    AdamAdam shared this idea  ·   ·  Admin →
    under review  ·  Jayson HoogeveenJayson Hoogeveen responded  · 

    This feature is reliant upon some work we need to do around creating a unified system for transfers within PocketSmith, as currently users can determine both categories and transactions as transfers. We haven’t added this as a planned feature to the roadmap yet as we need to investigate further, but we will update the status of this idea as we make progress.

    26 comments

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      • tom@castleman.me.uktom@castleman.me.uk commented  · 

        What is the latest on this? Voting has closed, but no updates for nearly 2 years.

        Representing inter-account transfers correctly is a vital feature.

      • Anonymous commented  · 

        Adding my voice to the chorus. If I add a credit card payment to my checking account, having the corresponding payment recorded as a budget in the credit card account, and impact said forecasting, would be sweet. Otherwise, each account has to have it's own budgets, even if they're interrelated. https://img.clippp.com/a7479e940d3f5cf9dadb4fdbd4857f56_aladdin-costume-diy-guides-for-cosplay-halloween-aladdin-costume-diy_975-600.jpeg

      • Marcos MarinMarcos Marin commented  · 

        This is an important feature to keep transactions netting, specially when you operate with more than one currency were figures will not be the same on the credit and debit side of different accounts.
        Thank you!

      • Heather SpaldingHeather Spalding commented  · 

        This is absolutely essential to accounting software. I spent the last day trying to figure out how to link them only to find that you don't have this basic feature. When will this be added? Xero does it well. Not really sure how to use your software without it. Seems like a deal-breaker.

      • RandyRandy commented  · 

        Adding my voice to the chorus. If I add a credit card payment to my checking account, having the corresponding payment recorded as a budget in the credit card account, and impact said forecasting, would be sweet. Otherwise, each account has to have it's own budgets, even if they're interrelated.

      • janemichael33janemichael33 commented  · 

        The need to link debit and credit transactions together as 1 transfer is essential!

      • Polina KhoroshkoPolina Khoroshko commented  · 

        I agree that an ability to record transfer just once and have it appear on both accounts is a staple of every other accounting software. All I seem to be doing since I started my trial is marking transfers and adding manual transfers into my cash account to match those pulled by the bank as atm withdrawals. It should automatically show up in my cash account once marked as "transfer to cash".

      • RowanRowan commented  · 

        Being able to mark transactions as Transfers is a good start. Being able to link the debit and credit transactions together as a Transfer "unit" would be even better. Particularly, for the offline accounts.

        Personally I have a few of these that I use to track various Cash/Liability accounts at home and having to manually create/maintain both sides of the transfer is painful and error prone.

        Perhaps start with support for transfers for offline to offline accounts - and then extend it into online to offline and online to online??

        Regardless of the approach - I think this is an area that needs some polish.

        Keep up the good work!

      • ThiThi commented  · 

        I thought this was such a basic feature I didn't consider it a feature at all. But since it's lacking, another vote for this.

      • MilesPMilesP commented  · 

        I support the idea as we move stuff around. It helps prevent one sided mistakes form happening.

      • Jerry Payne +0000Jerry Payne +0000 commented  · 

        this is fairly fundamental, please add before you scare people away.

      • JohnJohn commented  · 

        Essential! You may have a lot of ex-YNAB users coming your way, but this is a show stopper...

      • Sebastian TischerSebastian Tischer commented  · 

        This is definitely a must-have feature especially for people switching from Ynab. Would love to see it here.

      • BillyBilly commented  · 

        Was recommended by Xero to use this application where this exact feature exists...without it I'm a little lost on the value over other software packages...

      • Anonymous commented  · 

        Please add this feature! Just signed on to Pocketsmith today but didn't realise this wasnt an option. Even on free software like WaveApps, you can do this.

      • KrystenKrysten commented  · 

        Agreed! Even if I only have one account going into Pocketsmith, marking a transaction as 'transfer' should remove it from being counted as an expense or income - regardless of if the matching transaction is found. What if I had to transfer money for a number of bills to be paid from another account, there would be no ability to auto-match because the money was split into multiple transactions. In order for reconciliation to take place I would need to go the effort of separately transferring each bill amount into the account.

        Marking a transaction as a transfer should be an easy way to say 'this transaction should not be counted as having an impact on my financial situation'. Any more effort and the value is lost.

      • Dan NorcottDan Norcott commented  · 

        I second this. Transfers are really making it difficult for my clients as it isn't showing an accurate picture of their income or expenses.

      • AndyAndy commented  · 

        I absolutely think it would be good to have the ability to "match" entries in different bank accounts manually, and hopefully automatically based on dates and references. For example my bank put a reference in one account the number of the transfer account. Is this a problem (as per the review description) because pocketsmith does not have a double-entry under the hood?

      • michelle.macgregormichelle.macgregor commented  · 

        Absolutely agree this would increase the user friendliness of the software. I also think it should default to not show in income/expenses. For some reason, my auto allocated transfers keep appearing in the forecast.

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