Newbies, account setup and manual reconciliation

[Derrick Hudson]

On Tue, Nov 15, 2005 at 02:22:22PM -0600, Jeff Smith wrote:
| Jeff Smith wrote:
| >> In the future, should I be flagging these redundant transactions as
| >> "reconciliation" records, or just ignore them completely? Does it
| >> matter which way I go?
| 
| Andrew Sackville-West wrote:
| >I'm not sure what you mean by this. I assume you are manually entering a 
| >transaction when you pay your bill. Then later, when you download 
| >transactions, you get a duplicate of that transaction. Either one of 
| >these could be deleted. Reconciliation is unrelated. when you reconcile, 
| >you will mark whichever of these transactions is left. That is, when you 
| > check off the transaction on your statement, you will check off the 
| >matching one in the account in gnucash. that's all there is to it. what 
| >am I missing in your question?
| 
| Actually, I don't do manual entries. At the end of each month, I 
| download the transaction records from my bank. Each month includes a 
| record of a payment to a credit card. (Call this the bank's record.) 
| Then, I download a set of transactions from my credit card company. 2 or 
| 3 days after my bank shows the payment, my credit card company shows a 
| corresponding receipt of funds, which I will call the card's record. 
| (Why they don't show up on the same day is a matter for banking politics.)
| 
| So now I have two records of the same transaction, from both sides of 
| the fence.

Ah-ha!  Now I see what you are referring to.  Glenn's response is
right.  See what he wrote too.

| I was thinking that card's record should be treated simply as 
| a reconciling entry to match against the bank's record. Or am I missing 
| something?

Are both of these transactions appearing in the credit card account in
gnucash?  I have two explanations but which one fits depends on
whether you are seeing both in the credit card account (and possible
both in the bank account too) or if you have one transaction in each
account.

-D

-- 
"He is no fool who gives up what he cannot keep to gain what he cannot lose."
    --Jim Elliot
 
www: http://dman13.dyndns.org/~dman/            jabber: dman at dman13.dyndns.org
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