Reconciled Date Does Not Appear in Transaction Report

Derek Atkins warlord at MIT.EDU
Thu Mar 21 11:10:21 EDT 2013


Liz <edodd at billiau.net> writes:

> On Wed, 20 Mar 2013 12:30:26 -0400
> Derek Atkins <warlord at MIT.EDU> wrote:
>
>> > I, for one, do not reconcile income or expense accounts.  I cannot
>> > think of a reason to do that.  I depend on date ranges to do
>> > selection in income and expense reports.  If you do have a reason,
>> > please share it.  
>> 
>> Moreover, against what would you reconcile it?  It's not like you get
>> a statement of income from some bank.
>
> In one book of accounts an account with business expenses paid from
> personal account 
> with
> in the business book of accounts an account of funds loaned to the
> business from the owner

... Which wouldn't be an "Expense" in the personal account of the owner
-- it would be an Asset, "Reimbursibles".  So yes, it makes sense the
reconcile the Reimbursibles Asset account (they way I do it is to
"clear" the transactions when I file for my reimbursement and then
reconcile to $0 when I get paid).  But I still don't see how/where you
would reconcile the expense account.

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available


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