Reconciling an account

Mike or Penny Novack stepbystepfarm at dialup4less.com
Sun Jun 4 07:29:56 EDT 2017


On 6/3/2017 6:51 PM, EngineInstitute wrote:
> I am having problems reconciling an account. The starting balance agrees with
> the statement but ending balance does not. OK so I changed the ending
> balance to the correct one in the initial dialog box. I then went on to the
> next task of checking all of the debts and credits. I did that and compared
> the sum of the total debt and credit amounts against the statement so far
> ok. BUT the ending balance still does not agree even there are no additional
> debts logs and one outstanding credit and I cannot close the account for
> that period. What am I missing?
>
> Thanks.
  What kind of account are we talking about? Since you mention 
reconciling against a statement is this a checking account?

If so, have you ever reconciled a checkbook against bank statement in 
the old fashioned days, statement against your check register? If not, 
you likely have no clue what to look for. You do not start by "changing 
an amount"! Using GnuCash:

1) Confirm that there is nothing in either Imbalance or Orphan. If there 
is, correct that problem first.
2) Look at the statement from the bank. Are there any transactions there 
that have not been entered in GnuCash? << assuming that you can 
recognize these as valid transactions -- otherwise contact your bank to 
find out what these were.>>
3) Are any checks still outstanding (you wrote them, entered them in 
GnuCash, but not (yet) returned against your account at the bank. THAT 
is why I referred to "old fashioned days" reconciling because you STILL 
have to do this to get the same balance amounts.  You EXPECT a 
difference in the balances (you vs bank) for the sum of all uncleared 
checks.

Michael D Novack




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