pending vs. cleared transactions

[Robert Heller]

At Sun, 13 Sep 2009 14:22:02 -0500 "T. Howell-Cintron" <lists at kathera.com> wrote:

> 
> fireflys_98 at yahoo.com wrote:
> > I do the former, while it takes a while for the transactions to appear on chase website, they should still be dated correctly. 
> > 
> > James
> 
> > Phil Longstaff wrote:
> >>> 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?
> >> 
> >> As far as I am concerned, there is no right way or wrong way. My
> 
> James & Phil,
> 
> Thank you for your valuable advice.  The Chase site shows transactions
> pending for far longer than I'm willing to wait, so I think the best
> solution would be for me to hand-enter the transactions in to GC as I
> get them, mark them reconciled once they clear, and then verify the
> whole thing when I get my monthly statement.

You mark them 'cleared' when they clear.  When you reconcile your
monthly statement, they become reconciled:

When first entered, the transaction has a 'n', when you click on the
'n', it becomes a 'c', when the reconciliation dialog has been
successfully completed (clicking the green checkmark), they become 'y',
and the transaction becomes 'locked' (GC will complain with a warning if
you try to change the transaction after that point).

> 
> Thanks again!
> -- Tom
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