Query regarding reconciliation

[James Kerr]

On Tuesday 06 July 2010 Ankur Sinha wrote:


> 
> Thanks for that. I re-read the GNUCash help on reconciliation. What
>  I'm somewhat perplexed about is "so.. are only bank accounts to be
>  reconciled?". Or do you reconcile your "cash in wallet account"
>  with receipts etc.? i.e., all accounts are not to be reconciled?
> 

Reconciliation is the process of ensuring that two independently 
maintained records are in agreement. Usually you will only have a 
second record (the bank statement) to compare with yours (in Gnucash) 
for your bank accounts and credit cards.

Jim