Understanding reconciling

[John Morris]

Matthew,
  The system actually makes a lot of sense to me. When you reconcile an account, you are confirming that your records match the records of some other entity, usually your bank. In the case of the expense accounts, most people don't need to ensure that they match with any other entity because no one else cares how someone's personal money was spent. Therefore, there is no need for the expense accounts to be reconciled.

  However, there are plenty of use cases where it might be important to reconcile the other half of some transactions. For example, if I work for a company that reimburses my expenses, I might use the reconciling features to track which expenses have been reported to the company and which expenses have been reimbursed. Since the company might not reimburse me on the same schedule as my bank generates statements, it would be very important for the reconciliation of the two sides of the transaction to be independent of each other.

Best,
John

> On Dec 30, 2016, at 3:23 PM, Matthew Pounsett <matt at conundrum.com> wrote:
> 
> If I modify a transaction on one side it gets modified on the other, but
> the same doesn't hold true for reconciling.
> 
> That just seems odd to me, but thanks for the clarification.