Question to european gnucash users

[Steve Hall]

Fredrik Persson wrote:
>
> Is there any point at all in the reconcile concept, when we don't
> use checks at all? (The americans seems obsessed with those!)
> 
> I use cash or a VISA card. My salary is directly deposited into my
> bank account. I never write checks, I never recieve checks. What
> is the point of reconciling?

The point of reconciling is to verify that your records align with
those of the entity who you have your account with. Who's to say that
there wasn't a mistake somewhere in the process of making a
transaction for any number of reasons? Do you trust that your employer
deposited the amount that they said they would? Do you trust the
website where you purchased a new hard drive to extract the correct
amount? I have found errors in all sorts of transactions, from
web-entered ones to credit card charges and checks.

Reconciliation is a double-check. But you can always decide to trust
everyone else who handles your money to do as they promise. :)

-- 
Steve Hall  [ digitect at mindspring.com ]

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