Reconciliation question

Scott Nelson scott at
Fri Jan 21 10:23:03 EST 2011

On Jan 21, 2011, at 9:14 AM, Phil Frost wrote:

> 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.

Does that mean that he should manually mark his opening balance transaction as "reconciled"?  Would that fix the opening balance?


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