Closed acct with balance

[Michael P. Reilly]

On Mon, Oct 10, 2011 at 5:40 PM, Mike or Penny Novack <
stepbystepfarm at mtdata.com> wrote:

>
>  It sounds like $68.71 of legitimate charges you had made did not transfer
>> to
>> the new account.  If this is the case then effectively you have reduced
>> expenses by $68.71.  I would debit Credit Card and credit either an
>> Expense
>> category (to treat the windfall as a reduction in expenses) or an Income
>> category (e.g. Income:Miscellaneous to treat the windfall as income).
>> Either way it is a gain to equity (net worth).
>>
>> I suspect that the bank will eventually correct the issue.
>>
>>
>>
> That last line is not only important (even if you don't tell them) but you
> should be telling them. The purpose of reconciliation an account with an
> external party isn't just to find your mistakes but theres.
>
> Create a child account "bank error" for this item since you may have to
> carry it around for a while It took months before the bank decided how to
> handle a ONE CENT error (they misread a check). I doubt it would take it
> that long in your case but my organization is a 501(c)3 so the bank needed
> to make a policy decision (do we correct a small error of that sort or do we
> in effect "donate" it to the organization)
>
> The "bank error" item will let you balance/reconcile the account until such
> time as the error is corrected.
>

Thank you for your responses.  As I mentioned, I'm trying to get a final
statement from the bank so I can correctly reconcile the account, but I
wanted to know what I should do with the imbalance in case I can't.  I can
no longer view past statements or the account online, so I'm left with what
I downloaded by aqbanking before the account was removed (which was after
the new account was created).

Thanks again,
  -Arcege
-- 
What comes after the O-nut?
The P-nut
What comes after the P-nut?
The elephant
  *joke told by my sons*