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Allocating bank transfers from suspense (legacy method)

Mclowd provides users with two options in terms of suspense allocations:

  • A legacy interface (available to all users)
  • An upgraded tabular interface which supports faster transaction processing (access to which is restricted to Pro and Premium users only)

**NOTE:

  • The suspense allocation function – in either mode – is not suitable for adding a new property or any additions to that property.
  • That should be done only via the Add New Asset or Assets screens
  • However the interface is suitable for allocating property-related rental income and deductions

The balance of this article deals with the legacy interface.

If you have successfully imported the bank data:

  • Choose Suspense Allocation Legacy from the Transactions menu
  • You will then see the Allocate Suspense Entries screen

From the Suspense Account Allocation screen you will see a list of transactions that are available for allocation.

The following example relates to dealing with a Bank Transfer.

In the relevant row, you need to:

  • Click the Please select button against the Bank Transfer transaction
  • You will see a drop-down list of Income, Expenses, and Other categories
  • Select Bank Transfer

  • You will then see the Assign Bank Transfer screen. Most of the screen is pre-filled by Mclowd, except for To Account
  • Click Please select against To Account and then select the relevant bank account

 Note:

  • If required, you can change the Notes to something more meaningful
  • If you should not be adding a Bank Transfer, select CANCEL to return to the previous screen

Select TRANSFER FUNDS once you are satisfied with the information on the screen.