Reconcilliation

[Liz]

On Thu, 5 Feb 2015 14:20:21 -0500
"Derek Atkins" <derek at ihtfp.com> wrote:

> Hi,
> 
> Looking at the code GnuCash *can* create that kind of transaction.
> I've never seen it happen myself in over 15 years, so I'm trying to
> track the code to see *when* it happens.
> 
> ... and the survey says...
> 
> Looks like it is created if you click on the "Balance" button on the
> reconcile window.
> 
> In most cases one would never want to use this feature.  Charles, why
> did you click on the "Balance" button?
> 
> Thanks,
> 
> -derek

I just tried this. I opened my cash-in-wallet type account and tried to
balance it.
I hadn't checked any items, only 'Balance' could be used and it
promptly inserted "Balancing transaction from reconciliation", money
from Orphan-AUD, which it also created.


Charles.
Please read the docs, because pressing 'Balance' will not do a
reconciliation of the account with the statement from the financial
institution. It just puts in a quantity to make the books balance.
Having then inserted a balancing amount, if you remove it before next
'reconcile' you will be out of balance by the same amount at the end of
the next period / statement / month because you have not dealt with the
problem, which lies earlier in the books.

There is no easy way. Reconciliation is a manual process, and there are
no short cuts. Very recently someone noted how they may take a long
time - even into the next work day - with necessary cross-checking and
editing.