Question to european gnucash users

[Christian Stimming]

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On Dienstag, 5. August 2003 19:59, Jon Lapham wrote:
> Fredrik Persson wrote:
> > Forgive me if this question only applies to scandinavians, or maybe only
> > swedes, even. It's about checks, or rather the lack of them.

Germany doesn't use checks, too.

> > 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?
>
> I'm not sure what reconciliation has to do specifically with checks...
> you reconcile to your bank statement (or Visa bill), for whatever
> transactions done in the preceeding period.  *One* possible transaction
> to reconcile would be cleared checks, but you can also do this for your
> electronic deposits, ATM withdrawals, Visa charges, etc, etc.
>
> The whole idea of the reconciliation is to make sure that what you think
> happened, is the same as what your bank thinks happened.

Absolutely. Banks (at least in Germay) give you a quarterly "closing of books" 
with a closing balance, and with the reconciliation you could e.g. check that 
closing balance against your gnucash records of transactions in that quarter. 
I use reconciliation all the time for this, and it's a very nice feature for 
double-checking that everything worked out ok.

Christian
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