Hello - new to list with a question about reconciliation

[David Ryder]

On Wed, 2009-02-18 at 14:17 -0800, Cam Ellison wrote:
> David Ryder wrote:
> >
> > Thank you Maf.
> >
> > May I ask though, when reconciling an account, simple domestic example:
> > 1. reconcile cheque account
> > 2. one of the entries is "salary" which is paid into the cheque account
> > and increases the Income:Salary account
> > 3. Why does the cheque account have a 'y' for reconciled but the
> > corresponding entry in Income:Salary doesn't?
> >
> >   
> Because, to put it somewhat baldly, you are reconciling the account, not 
> the transaction.  That's not exactly true, but I think it is helpful to 
> look at it that way.  Since you reconcile by account, only the entries 
> in that account are reconciled - that is, the half of the entry that 
> belongs to the account you are reconciling is tagged.  The other half 
> actually belongs to another account.
> 
> If you reconcile to a credit card statement, and reconcile to your bank 
> statement, you'll find that the common entries - credit card payments 
> made from the chequing account - have two "Y"s.  The rest of them don't, 
> and shouldn't.
> 
> HTH
> 
> Cam
> 
Thank you Cam.