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Sequestering of cash (Bank Accounts) Expand / Collapse
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Posted 11/09/2015 3:13:39 PM
Junior Member

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Group: Forum Members
Last Login: 29/04/2017 7:59:16 PM
Posts: 1, Visits: 24
At present, the only way to sequester cash at bank or term deposits is to use a very messy work-around. It treats sequestered money as "shares" valued at $1 each and takes too many journal entries (sources of error) to work around so that any cash can be sequestered. Any interest rolled back in is treated like a new purchase - new asset name, etc - too many entries needed to "work around". Allowing bank accounts (or sub-accounts) to be sequestered would direct interest payments and other income/expenses to be directly costed to/against individual members.
Post #5009
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