reconcile outstanding checks

[Colin Law]

On 19 July 2011 21:23,  <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

Yes, when you start the reconcile you should set the Ending Balance to
be the ending balance from the statement you are reconciling.  The
Starting Balance shown should already be the same as that on the
statement.

Colin