Reconciling questions

timzak tzakharov at charter.net
Fri May 23 13:54:18 EDT 2008


Thanks for the reply.  I decided to go ahead and reconcile against my bank
statements.  All went well until March or April's statement (can't remember
which as the date of the transaction in question is right on the border). 
Basically, there was a single transaction that didn't get automatically
selected during the reconcile process, I think because it was a split
transaction and I forgot to set it as cleared.  So in the Reconcile menu,
this transaction was unchecked.  I checked it, and the reconcile process got
balanced to zero (as it should).  However, when I finished reconciling, that
transaction only showed a "c", not a "y" like it should if it had been
reconciled.  I wasn't sure what happened, and could not figure out how to go
back and reconcile just the one transaction, so I moved on to the next
month's statement and saw that the transaction in question showed up in the
next statement's reconciliation window.  Again, I went through each
transaction, noting that they all had checks next to them.  When I got to
the end, I noticed one deposit of salary that was not checked, and the
balance was off by that same amount.  So I put a check next to that deposit
(it was the last transaction on that month's statement), and saw the
balances get to zero (balanced the month).  Everything looked great, so I
applied the reconciliation.  This time I noticed that the original
transaction that didn't get reconciled, was now reconciled.  Yay!  However,
now this last deposit that I had to manually check in the reconcile window
does not show as reconciled!  It has a "c" instead of a "y" just like the
original one I mentioned.  It appears now that I have to wait til next
month's statement and tack this one onto next months to reconcile it,
leaving me to wonder if there will be another transaction that this happens
with, leaving me in some weird endless loop.  Does this sound familiar?  Do
you have any way to help me?  Am I making any sense?
javascript:Nabble.smiley('anim_confused.gif',':confused:')

Thanks.

Tommy Trussell wrote:
> 
> On 5/21/08, timzak <tzakharov at charter.net> wrote:
>>
>>  Hi, I've been using Gnucash for about a month now and I'm still learning
>>  about it.  I have input about 4.5 months of data (from Jan 1st to
>> present)
>>  and am pretty satisfied with the program so far.  I have not yet done
>> any
>>  reconciling.
>>
>>  1) Is it required to reconcile accounts that are reconcilable?  So far
>> I've
>>  only cleared the transactions, and everything seems fine.
> 
> I'm not sure I understand the question, but I believe you don't HAVE
> to reconcile anything -- assuming everything you do is perfect and
> always in agreement with the bank! (Reconciling is just a method of
> verification with the bank statements.)
> 
>>  2) (If I do decide to reconcile) how would I go about reconciling
>> January
>>  when my bank's statements appear to be mid-month to mid-month.  I have
>> no
>>  data in Gnucash prior to Jan. 1st, so how can I reconcile January when
>> the
>>  bank statement begins in mid-December?
> 
> You can either a) ignore all transactions before January 1st, and
> adjust your starting balance to bring the first January reconcile to
> zero, or b) you could go ahead and enter all the December transactions
> from the statement into December. (In my opinion this might be less
> error-prone because it will be easy to match all the transactions.)
> You still have to enter a starting balance, but if you enter the
> transactions it can be equal to the statement's starting balance.
> 
> HOWEVER on both of my answers IANA (I Am Not an Accountant) so others
> may be able to clarify, amend or correct what I've written.
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