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Post by GSV3MIaC on Dec 30, 2014 16:24:47 GMT
It's possible that FC do that, but any accountant would tell you that it is not permissible for money to just 'vanish' like that .. maybe there is another invisible pot called 'owing, but maybe never going to arrive' that it hides in. Although whether processing is the same as late is equally debatable.
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blender
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Post by blender on Dec 30, 2014 17:43:25 GMT
It's possible that FC do that, but any accountant would tell you that it is not permissible for money to just 'vanish' like that ... I guess neither of us are accountants, or we would charge for our advice, but in the case of accrued interest I would suggest it is allowable, even desirable, to move it up and down. Because it is not actual money received and in our account, but an estimate or prediction of what we might receive from that which is owed to us at present. It is good that FC has now excluded that from the total and made it a stand alone figure. Everything now in the total is real money, and subject to the disciplines you state. Accruals are different, and you would expect interest on defaulted loans to be removed - so why not err on the side of caution on the lates? I don't know what they actually do, though. As long as they do not add an accrual for anticipated recoveries!
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adrianc
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Post by adrianc on Jan 6, 2015 12:20:53 GMT
Somebody want to put another Flipping Coin in the meter, or feed the F*****g Canary? A quarter of yesterday's are "Processing" and all of today's. Surely this can't still be the hangover?
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blender
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Post by blender on Jan 6, 2015 14:02:51 GMT
Now, Now. Be fair. Frozen Contacts are not to blame for the new year starting earlier than anyone expected.
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Post by transo on Jan 6, 2015 17:05:04 GMT
Somebody want to put another Flipping Coin in the meter, or feed the F*****g Canary? A quarter of yesterday's are "Processing" and all of today's. Surely this can't still be the hangover? To be fair this is just the daftness of the UK banking system; the direct debits need to get raised three days before they're payable, which means ones due today were probably due to be submitted to the banking system on Thursday last week, which of course isn't possible because the banks close down. They'll almost certainly work themselves out in the rest of this week.
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sl75
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Post by sl75 on Jan 6, 2015 18:02:09 GMT
Somebody want to put another Flipping Coin in the meter, or feed the F*****g Canary? A quarter of yesterday's are "Processing" and all of today's. Surely this can't still be the hangover? To be fair this is just the daftness of the UK banking system; the direct debits need to get raised three days before they're payable, which means ones due today were probably due to be submitted to the banking system on Thursday last week, which of course isn't possible because the banks close down. They'll almost certainly work themselves out in the rest of this week. To be completely fair, most other organisations who handle direct debits seem aware of the need to submit the file to the banking system a day earlier in such circumstances.
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