[GNC] Reconciliation being undone without warning

[David Cousens]

George,

You will get a warning that you are changing a split that is associated with
a transaction which has another split which has been reconciled, but the
flag itself only changes if you alter the amount and other details of the
split which is reconciled not any other split of the transaction.

Reconciliation simply means checking amount and description that the split
of a transaction affecting the account you are reconciling matches the
amount and a similar description in a statement supplied by an external
source. The dates generally will be the same or close but do not have to be
exactly the same. 

For example you might record a check in your books on the day you write it
but your bank will record it on the day they receive the request for funds
from the payee's bank and when they take the funds out of your account. 

A strictly correct accounting procedure would use a check clearing account
to record writing the check against an expense account and then record a
transaction from the clearing account to your bank account on the day the
bank takes the funds out. With electronic clearing that period is now
getting sufficiently short. Whether you need this level of detail can depend
upon the nature of the business, whether you can use cash or accrual
accounting etc. This gives you a record of uncleared checks which can help
in managing cash flow. 

It will most commonly be an asset or liabilty account  against a bank
statement or similar but it may be against a statement issued by a supplier
who supplies you with goods on credit in which case you could reconcile an
expense account. That would normally only be a partial reconciliation unless
your expense accounts were broken down by supplier and that supplier only
supplied goods in one specific expense category.

David



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David Cousens
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