Cheques and Reconciling

[Stewart V. Wright]

Hi All,

For some reason the UK is a big fan of cheques.  For example, I must
pay my rent by cheque[1].

However when I pay for anything with a cheque there is a delay between
the date that I write the cheque and the date that it is cashed (for
example my landlord often waits and cashes three months worth of rent
cheques at the same time...).  Naturally this screws up the
reconciling of my bank statements, and confuses the amount of money I
have in my account and the actual value of my Net Assets...

Does anyone have a suggestion for what to do?  I was thinking of
creating a Liabilities:Cheques account, and then transferring money
from my Assets:Current Assets:Savings Account over when the cheque is
finally cashed.

Are there any other ways to do this?



Thanks,

S.




[1] ASIDE: This was a really big hassle when I first moved here,
unable to open a bank account until I had some record of me living at
an address, unable to get paid until I had a bank account, and unable
to pay my rent except by cheque!
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