Cheques and Reconciling

[Stewart V. Wright]

G'day Derek,

* Derek Atkins <warlord at mit.edu> [031013 15:49]:
> Use the "cleared/reconciled" flag as it is meant to be.
> A delay in processing the check shouldn't affect your
> reconciliation at all.  You just continually skip the
> check transactions until they are actually cleared.

I'm just hanging out to press that "Finished" button in the
reconciliation window.   :-)

 
> Basically, when the funds leave your account you mark a
> transaction as 'cleared'.  This means that the "cleared balance"
> should be accurate to the amount of money you actually have
> in the account.  The reconciled balance should match your last
> month's statement.  And the "present value" matches how much
> you have if everything cleared right now.

Ahhh...  That all makes it much more obvious.  I didn't really bother
reading all of those.  Makes sense to leave it as is now.


Thanks all,

S.
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