Lost Checks - No Payee - Best Practice

Michael Hendry hendry.michael at gmail.com
Tue Jun 9 05:12:29 EDT 2015


> On 9 Jun 2015, at 04:58, Milton Stern <drmoshe5 at gmail.com> wrote:
> 
> I appreciate your analysis.
> 
> Personally, I would would like to be able identify any possible fraud by a
> Payee and/or Amount mismatch, or an "out of range" Check Number" at time of
> reconciliation, all within the same database.
> 
> BTW We are talking about 50 checks. (For some reason it expanded to 100
> then 500)
> 
> ;-)
> 
> Everybody's help is very much appreciated.

Coming late into this conversation, it seems that there is a much easier solution - to enter all known transactions with the bank directly through GnuCash, either “by hand” in the case of cheques and card payments, or using Scheduled Transactions for standing orders and direct debits.

Periodic reconciliation of the GnuCash account with the bank statement will immediately reveal transactions you didn’t know about - perhaps fraudulent, but possibly accidental omissions - and also pick up cheques you’ve issued but which haven’t been presented.

If you accept the bank’s view of your finances by importing transactions you’re achieving nothing in the process of reconciliation - you’re just comparing the bank’s statement with itself!

…or am I missing something?

Michael




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