Reconcile Question

[Colin Law]

On 23 November 2013 20:46, Jay Ridgley <jridgley2 at austin.rr.com> wrote:
> Folks,
>
>  I just read Tommy Trussell's post about the close books thread; where he
> references the systems behavior when an attempt is made to change a
> reconciled account.
>
> I reconcile my checkbook on a monthly basis, however the accounts used as
> offsets are never flagged as reconciled. Am I supposed to flag the entries
> in the associated accounts as cleared, as I do checks and deposits in the
> checkbook? If that is a requirement why is it not done automatically? Do I
> need to reconcile the income and expense accounts on an individual basis?

Normally one would only reconcile accounts that one gets a statement
for.  The purpose is to reconcile the accounts against the statement
(ie make sure that they match).  There is no need to reconcile the
income/expense accounts since there is no statement to reconcile them
against.

Colin