Fixing opening balance for an incorrectly reconciled account

[Maf. King]

On Monday, 15 May 2017 02:19:18 BST Andrew Gross wrote:
> Greetings -- have looked at a couple of old threads on reconciliation
> issues that come close to this question, but not quite. In two of my
> accounts (one asset; one liability) I committed a transgression; I
> attempted to fix a reconciled transaction.  Since then, I have to put in a
> "fix" to balance each account.  I add a bogus transaction; reconcile; and
> then reverse the transaction.  Essentially, I need to be able to reset the
> opening balance in order to fix this.   I know changing the opening balance
> is not an option; is there an alternative so I can stop using the "bogus
> transaction" method?
> 


Hi Andrew,

The usual advice is to ignore the opening balance and reconcile to the most 
recent statement, including any older transactions that have become un-
reconciled.  When the final balance matches up, you can finish the reconcile.

If you need to add a dummy txn to recreate something you have deleted, then 
create one but be aware that it is a fudge and add explaining notes.

I've looked through the text of chapter 4.4.1 that you mention, and I can't 
see any reference to reversing the dummy txn - which would clearly throw the 
reconcile off for next time.  Can you point me to the paragraph that you saw, 
for context?

HTH,
Maf.