Newbies, account setup and manual reconciliation

[Jeffrey B. Ferland]

Reconciling more or less means that you just check the box next to it  
saying that "yes, I can manually see that this transaction did happen  
on the other side"

-Jeff
SIG: HUP

On Nov 15, 2005, at 3:22 PM, 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. 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?
>
> -- 
> Jeff Smith
> Computer Science Dept.
> University of Saskatchewan
> http://jefficus.usask.ca
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