reconcile outstanding checks

Derek Atkins derek at ihtfp.com
Tue Jul 19 16:29:38 EDT 2011


Hi,

You should do choice 1:  You should change the balance in the Reconcile
Window so that it does not include the sum of the outstanding checks. 
Indeed, you should set the balance in the Reconcile Window so that it
matches the sending balance from your monthly statement.  That is EXACTLY
what you are supposed to do.

The default amount put into that window is GnuCash's guess based on a
guess that all transactions have cleared.  Obviously that is NOT always
the case for most accounts, but it can often be "correct".  The only other
alternative would be to leave it blank.

-derek

On Tue, July 19, 2011 4:23 pm, mchaires at comcast.net wrote:
>
>
>> There will often be items in the gc register that haven't shown on the
>> bank statement (yet). <
>
>  
>
> That is indeed the case. What I expect to be able to do with the Reconcile
> function is to say "OK. With the exception of these items in the register
> that the bank knows nothing about (because they have not been presented
> for payment (yet)), the statement and register agree. So gc, mark this
> period (calendar month in my case) Reconciled. gc will not allow me to do
> that because the difference between the statement total and register
> total is not zero and hence the Finish button is disabled.
>
>
>
>
> It's true. I do not have an Accounting background, but I have been
> balancing checkbooks for a number of years. What am I missing? It seems
> the only way out of this dilemma from gc's point of view is 1) Change the
> balance in the Reconcile window so that it does not include the sum of the
> outstanding checks 2) Change the date of the checks to the date the bank
> actually paid them instead of the date they were written (and entered into
> the register) 3) In the Reconcile window , mark the checks as paid , even
> though they weren't.
>
>
>
>
> ----- Original Message -----
>
>
>
>
> From: "Maf King" <maf at chilwell.net>
> To: gnucash-user at gnucash.org
> Cc: mchaires at comcast.net
> Sent: Tuesday, July 19, 2011 12:32:56 PM
> Subject: Re: reconcile outstanding checks
>
> 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.
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-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant



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