[moneydance] Observe Payment Date Restrictions ignored in MD 528

[Joe Menola]

On Friday 23 June 2006 10:13 am, Kevin O. Lepard wrote:
> >[I] am a bit frustrated that BofA seems to take the money out of my
> >account on the payment date instead of whenever the payment is
> >actually sent or the check cashed.  I don't know of most banks do
> >this, but I wouldn't be surprised.
>
> All the banks I've used to make payments this way do this.  I don't
> much care for it either, but I try to look at their making money on
> the float as a trade-off for the service being free (at least at my
> bank).

For eft payments, the day it is sent is day it is received (the transfer 
actually happens in a matter of seconds), so deduction at that time is 
appropriate. 
As for sending paper checks on your behave...the issue of the check, is much 
the same as the receipt of one you've written, when a check you've written is 
presented to the bank, they don't wait until the other person has those funds 
available to deduct it, it gets deducted when the receive it do they?
Once they send that check it must be deducted from their assets and therefore 
from yours to balance the books.
Funny, I noticed no complaints about not having to pay the postage to send 
that check...;) 

-jm