Starting a new year

[David T.]

Ruth,

Presumably, if you:
* enter the correct closing balance, and then 
* reconcile: a) the opening balance transaction, and b) the remaining transactions that match the statement,

Then, the reconcile should work out. This assumes that your opening transaction accurately reflects the total of all the earlier transactions.

Of course, by closing your GnuCash file before reconciling out everything in the file, you’re granting the bank the benefit of the doubt with regard to the unreconciled transactions in the earlier file. That might suggest that next time around, you wait until after everything is reconciled for the year before you split the file. I don’t know, as I don’t close my file, and I am not an accountant.

David

> On Feb 2, 2017, at 10:28 PM, Ruth Morley <morley.ruth at gmail.com> wrote:
> 
> I have started a new file for gnucash to reflect the New Year..I took my
> opening balance on my checking accouunt as the amount in the account on
> January 1. Now of course I have a bank statement that reflects Dec 15
> through Jan 14. How do I do my first reconcile..everything is correct I
> just don't know how to do the reconcile.
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