Reconcilling at the end of the year

Keith Royall kthroyall9 at gmail.com
Tue May 29 00:47:22 EDT 2012


Thanks for coming back to me so quickly, with an answer which was very
precise.

Keith

On Mon, May 28, 2012 at 11:22 AM, Jay Ridgley <jridgley2 at austin.rr.com>wrote:

> Keith,
> cc: gnucash-user list
>
> I have used gnucash for about 2 years. I too think it is a wonderful
> accounting package. I am going to take a stab at answering you reconcile
> question, others may correct me, since this is the first time I have tried
> to offer a solution...
>
> To reconcile 2 things are needed:
>
> 1) The banks closing balance from the statement for the period
> 2) The Date of that statement
>
> Those are the figures you must enter in the reconcile box. The beginning
> balance is kept by the system from the last time you successfully completed
> a reconcile and may not be changed.
>
> Cleared items should have been recorded prior to beginning the reconcile.
> Items that have not cleared (as indicated by the bank statement) remain
> outstanding. If the amounts are all correct the finish check mark will be
> green, if not you need to research where the difference is coming from. Was
> an amount incorrect between your ledger and the bank, did you not mark a
> check cleared that is shown on the statement or vice versa. I have found
> that most of the time I failed to mark an item(s) cleared that the bank has
> on the statement. You can tic it(them) off in the reconcile window. Once
> you have completed that exercise the green arrow should appear.
>
> Outstanding items will remain outstanding until they clear the bank.
>
> I hope this helps.
>
> Cheers,
> Jay
>
>
> On 05/28/2012 02:16 AM, Keith Royall wrote:
>
>> I have only just discovered gnucash, and on first impressions I am
>> very pleased with it. For a free program, its better than a couple of paid
>> for versions I've used, especially with the balance sheet reporting.
>> gnucash balance sheets are laid out in the conventional method; in the
>> paid
>> for versions they aren't.
>>
>> Having said that, however, I have couple of questions I don't seem to be
>> able to find answers for in the help files or anywhere else.
>>
>> Question 1 - Year End Reporting.
>>
>> When I start a new year, are the retained earnings/losses carried over
>> automatically, and do I have to go into 'Preferences' to change the
>> accounting year dates?
>>
>> Question 2 - What do I do when a check (Cheque) transaction is not cleared
>> by the bank until the month following the month I sent the check (Cheque),
>> and recorded the payment?
>>
>> I started my first file by entering last year's transactions and tried to
>> reconcile my December Bank statement.  However, a check (cheque) payment I
>> made, and recorded, in December didn't go through the banking system for
>> payment until January, so I didn't tick that transaction as
>> being reconciled.   This prevented me from finishing the reconcilliation,
>> as the 'Finish' button was greyed out.  What do I do in this situation?
>>
>> Regard
>>
>> kthroyall
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>
> --
>
>
> Jay Ridgley
> jridgley2 at austin.rr.com
> Registered Linux User ID - 9115
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> Registered Ubuntu User ID - 23320
>


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