Reconciliation question

[Phil Frost]

On Fri, Jan 21, 2011 at 11:03:15AM -0400, MacDougall, Alexander wrote:
> I have just set up GnuCash and I'm not terribly familiar with the world
> of accounting - however it does seem to be pretty easy with GnuCash.
> 
> I am really just tracking the transactions of a chequing account and
> started with Aug 1.  I now have several bank statements that I'd like to
> reconcile.  However, when I start the process the reconciliation
> "wizard" indicates Opening Balance: $0.00 and thus my closing balance is
> wrong.
> 
> When I set up the system, I entered the July 31/Aug 1 bank balance as
> the Account opening blanace.

The opening balance indicated in the reconcile window indicates the sum
of transactions marked as "reconciled" at the time the reconcile tool
was started. If you haven't reconciled anything yet, this sum will be 0.
You can also see the present sum of reconciled transactions at the
bottom of the window when viewing any account.