reconcile outstanding checks

[Maf King]

On Tuesday 19 Jul 2011 17:04:05 mchaires at comcast.net wrote:
> When I use the Reconcile function, how do I account for outstanding checks?
> The only way I see to reconcile an account with outstanding checks is to
> clear the checks, even though they weren't paid in  this period.

Hi,

I think that you may be mis-understanding the use of the reconcile function.

The idea is that you compare your account with a statement from the bank - if 
they send you a statement today, then it won't show checks that you may have 
written recently.  that doesn't matter - you probably know more than your bank 
about pending and future transactions!  

the idea of reconciling is to make sure that you agree with everything on the 
statement, and that you check that the bank haven't for example paid a check 
twice.

You enter the closing balance of the statement, and try to "tick-off" items in 
your GC register to come to the same total - there will often be items in the 
gc register that havn't shown on the bank statement (yet).

HTH,
Maf.