Advice on ACH transfer?

[DavidJ]

Hi!

I sometimes make ACH transfers from a cash account at one institution to a cash account at another. The transfers take anything from 24 hours to several days. It looks to me like the easiest way to handle them in FM is by "transfer between".

Does anyone have any advice on what date to use in FM?

I'm running v. 10.

Thanks.
D.

[Mark]

Hi DavidJ,

I would not use "Transfer Between" for these, just because that feature can create multiple transfer in transactions, in order to maintain your cost basis dates/amounts from different purchase lots. For cash you don't care about this, and it just creates extra un-necessary transactions. You can either use a single Transfer Out and a single Transfer In or even just a Buy and Sell.

You can use whatever dates you prefer, but it might be easiest to just use the same date for the Buy as the Sell, so you will maintain a constant portfolio value across this transfer. If you wanted to be technically correct, you could transfer into a temporary ACH cash account, and then into the destination account a few days later, leaving the ACH account empty once the whole thing is complete. This may be more confusing than it is really worth, but it is up to you.

[DavidJ]

Thanks!

D.