[GNC-dev] Using ending balance from OFX file as ending balance of reconcile?
derek at ihtfp.com
Wed Jan 22 23:37:28 EST 2020
Small correction.. I believe it remembers the last two reconcile dates and
chooses the next one based on the time distance between the two. So if you
reconcile on Jan 1 and March 1, next one will be May 1.
Sent using my mobile device. Please excuse any typos.
On January 23, 2020 2:19:05 AM John Ralls <jralls at ceridwen.us> wrote:
>> On Jan 22, 2020, at 2:57 PM, David Cousens <davidcousens at bigpond.com> wrote:
>> Can't rtemember if it was discussed or not but there are possibly good
>> reasons for not using the ending balance of an OFX import as the starting
>> balance for a reconciliation.
>> 1. Depending on when the download is done, the bank may or may not have
>> included all of its charges and interest whereas a statement is usually
>> provided some time after the period of the statement and has all appropriate
>> fees and charges and adjustments included up to the closing date of the
>> statement. By providing a statement the bank is certifying this.
>> 2. Reconciliation is the process of ensuring the accounts transaction record
>> is in agreement with the bank's. The bank considers its records true and
>> correct when it provides a statement of account that is certified to be so.
>> 3. The starting balance of the next reconciliation has to be the ending
>> balance of the previous reconciliation to ensure that no transactions are
>> missed or extra transactions included in the period of the statement.
>> Maybe the situation may become different if and when banks are prepared to
>> declare their download OFX records are true and correct at the time of
> Besides, the reconcile window doesn't necessarily default the reconcile
> balance to the ending balance, it defaults it to the last running balance
> on the reconcile date. If this is your first reconcile ever then it does
> default to today, but if not it defaults to one month after the last
> reconcile date.
> John Ralls
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