[GNC] Reconciling different periods?

[Adrien Monteleone]

You should always use the ending balance, never the “latest" or “today’s" balance. (unless ’today’ just happens to be the actual closing date on the statement - highly unlikely)

Reconciling March ‘18 using the balance as of today, 12/13/18 (or any other date) is impossible, meaningless and makes no sense.

If you want to reconcile March, enter 3/31/18 as the date and the ending balance on the statement.

Then to reconcile April, enter 4/30/18 and the ending balance on the statement.

repeat through November ’18.

You are then reconciled ’to date’ until you get your December/end-of-year Statement.

‘Reconciling’ is matching the activity on your statement with the entries in your books. That is always ‘as of a closing date’ (in the past), *not* as of ’the day you happen to perform the reconciliation.'

Regards,
Adrien



> On Dec 13, 2018, at 11:13 AM, Finbar Mahon <mahon.finbar at neuf.fr> wrote:
> 
> Thanks, Michael, I have been trying that using end March of this year as the last 'OK' date but doing it up to latest balance seems to catch other errors, so I  was wondering if  I could 'stage' the process.
> 
> Looks like D's reply indicates I could do it by varying the closing balance to coincide with one I am happy with. Maybe a slight problem if the closing balance is duplicated elsewhere? Maybe unlikely.
> 
> In fact by a combination of the two replies I can go back to the last 'good' situation and use the closing balance there as a starting point?
> 
> I'll give the ending balance a try.
> 
> F
> 
> On 11/12/2018 17:56, Michael Hendry wrote:
>>> On 11 Dec 2018, at 16:40, Finbar Mahon <mahon.finbar at neuf.fr> wrote:
>>> 
>>> Hi,
>>> 
>>> My reconcile is a bit erratic. So, I thought of trying to find the error by reconciling for different periods. If I put in the date for the last statement for the period I want to check, can I just put in an amount as the ending balance that coincides with the starting period and that way check on a period by period basis?
>>> 
>>> I know it sounds complicated but I cannot think of a better way of doing it.
>>> 
>>> Thanks
>> Afternoon, Finbar.
>> 
>> As a user of GC since 2010 for my personal accounts, I would advise that you step back from this precipice before you jump over it!
>> 
>> I urge you go back far enough in your accounts to get to a bank statement that is in exact agreement with your accounts, then work your way systematically forward from that date, correcting any erroneous entries in your accounts as you go.
>> 
>> Ideally, you should mark everything beyond the reconciliation date as “unreconciled” and go forward from there - it’s very easy to click on a duplicate transaction and mark it as reconciled, or to miss digit transpositions and other typing errors.
>> 
>> Best of luck!
>> 
>> Michael
>> 
>> 
>> 
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