online bank acct

"Randy Starkey" wrote in message news: snipped-for-privacy@corp.supernews.com...

You might also ask if what you want to accomplish by using bank sub accounts can be done using other methods. Naturally you must disclose the purpose for using bank sub accounts.

Hi Allan,

We do already use classes, and our purpose of the sub-bank accounts is to quickly and easily (without reports) to see the balance of two different divisions that share a bank account. The reason we share an account, is it saves a lot on credit card fees and many other similar things.

Thanks,

--Randy

"Randy Starkey" wrote in message news: snipped-for-privacy@corp.supernews.com...

The decision is up to you, which is more important, online banking or quickly knowing the cash balance attributable to each business division.

"Randy Starkey" wrote in message news: snipped-for-privacy@corp.supernews.com...

I understand that you might want to see sub-accounts under the main, it is common for credit card accounts. But the credit cards have different account numbers assigned.

What determines to which division a transaction belongs?

My bank does not provide online webconnect through QuickBooks - I use the download option only with the business credit card accounts. But when accepting transactions in the CC accounts, there is a screen that allows me to enter the proper account for the expense AS WELL AS change the account to which the transaction belongs (for payment to be applied to a specific sub-account, for example). Is that not a possibility with the bank download?

Right. We've talked to Intuit's beta dept. - we did alot of work for them in the 2007 beta - and they think this might be fixed soon. We found one workaround... Enable OLB on all accts with dummy acct numbers, and then just change the acct number to the real one for each batch of OLBP as we do them from the sub-accounts

Each division incurs their own expenses.

You might be right - but it would be too much editing for us - too many transactions. We did find a decent workaround for now - see my other post - and Intuit has said they will fix this. They are really wanting OLB to have all the flexibility possible, so I was glad to hear that .

"Randy Starkey" wrote in message news: snipped-for-privacy@corp.supernews.com...

You misunderstood me.

When I asked 'What determines to which division a transaction belongs?' I was refering to what, physically, determines to which division a transaction belongs.

If you are SHARING a bank account number, even giving the program the ability to handle dummy sub account numbers in an online banking download, will not prevent the bank from sending all transactions for the account. There still must be a way to determine what transactions belong to what division.

I'm unsure as to just how your 'workaround' works (perhaps because I do not know what OLBP is?).

OLBP = Online Bill Pay

On the transaction download, in a sense it doesn't matter as the transactions show up in both the sub acct and the main account, so you can reconcile them in either. Actually, I'm hoping Intuit will fix this to let us enter all transactions into the sub bank accounts, but then let us just go to the main (parent) acct and do the sending. Since they appear in there anyway from the sub account. Right now, that's what they don't allow. so that means you can't enter the transaction into the sub acct if you want to send it, you have to enter it into the main. Sort of a can of worms . But the workaround does work, and I'm hoping they will fix it! We've done beta since DOS version 1 (remember "Quick Pay"? :)), and sometimes they are slow to address things, but I think they will get on this, as online stuff is so popular.

--Randy

"Randy Starkey" wrote in message news: snipped-for-privacy@corp.supernews.com...

Ahhh.. Now I understand. Your concern was with SENDING transactions, which, of course, you enter into the appropriate sub-account.

Thanks for clearing that up. I was wondering what I was missing.