How To Do My Own Transaction Matching
prl
prl at ozemail.com.au
Thu Dec 12 04:02:08 EST 2013
On 12/12/2013 16:10, Tommy Trussell wrote:
> ... When I have a scheduled transaction for a variable bill (utility,
> credit card) GnuCash allows EITHER use a variable for the amount and
> the system will prompt for it when the transaction gets created, or
> one can enter a "typical" or "placeholder" amount in the transaction,
> and edit it after the transaction gets created. In either case, I use
> the online notice or statement I receive from the company to enter the
> correct amount on the correct date. (Just like I did when I got paper
> bills.) I use the Scheduled Transaction "notify in advance" feature so
> I know to watch for the transaction about the time I usually get the
> bill, and I have the transaction pre-set for the date it usually gets
> drafted. However I can examine the bill and adjust the date the
> company says they plan to draft the account.
For variable bills, I enter the amount into the transaction template
when I receive the bills, then they are created with the correct amount.
I schedule them to be put into the register 5 days in advance, so I can
see what's coming up.
> ... I can understand how you might feel this way -- I spend some
> number of minutes every week chasing down bills and receipts to enter
> into GnuCash. HOWEVER if I just relied upon the imported transactions
> as they came through the bank, I might not catch any fraudulent or
> erroneous ones. Fortunately I haven't had many over the years, but
> there have been a few.
I once found that I'd been charged twice for my home and contents
insurance annual payment!
> Personally, I am not ready to rely on imported transactions and stop
> keying in my receipts and bills to assign accounts and amounts. With
> the reconciling process I catch monetary mistakes, then at tax time I
> catch errors in the accounts assignments. I believe I would have a lot
> harder time getting the accounts right via imported transactions for
> my credit card, for example. (I often have more than one type of
> transaction from the same store.) But I believe I understand what
> you're hoping to achieve with the transaction importer, and that's the
> point of this thread.
If all transactions are imported, there seems little point in doing a
reconciliation at all.
Peter
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