pending vs. cleared transactions

T. Howell-Cintron lists at kathera.com
Sun Sep 13 14:41:22 EDT 2009


T. Howell-Cintron wrote:

I know it's bad form to reply to your own message but after re-reading
it I figured I could better put my question, as this:

When dealing with your checking/debit account do you enter the contents
of receipts immediately, and during reconciliation verify the expenses
with your bank, or do you wait for your bank to clear the transaction
and just assume it's reconciled at that point?

(Please be gentle.. I'm new to GC, new to accounting, and it's a hard
change to make when you're used to keeping your cash in your pillowcase)

Thanks again,
Tom Howell-Cintron


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