[GNC] Reconciliation is not adding up correctly - what to do??
Maf. King
maf at chilwell.net
Tue Jan 29 06:47:27 EST 2019
Hi Finbar.
I've been following this thread, but got lost in it. Starting again seems
like a good idea. More comments in line...
On Tuesday, 29 January 2019 11:24:36 GMT Finbar Mahon wrote:
> OK, let's go again.
>
> 1. I started using GNUCash with effect from 1.1.2018
>
> 2. For this particular a/c the figure €3986.22 is the balance in the
> a/c, taken from the bank statement on 28.12.2017, after the last
> transaction on that date.
I assume there were no transactions (or that you recorded any transactions)
that came to your bank on 29/30/31 December 2017?
>
> 3. I had a non-zero opening balance, in the sense that I created (named)
> the a/c in Gnucash and then started with the figure above, so that I
> could continue from the previous a/c into 2018. Should I have ignored
> the opening balance, the amount in the bank on 28.12.2017??
>
No, that sounds good to me.
So, can you take your statement for 28-12-17, do a reconcile to the "initial"
closing balance of 3986.22 ?
there should be no transactions already reconciled, as this is the first
reconcile. set reconcile date to 28/12/17, Starting Balance should be
computed to 0 and enter the ending balance (if GC has guessed wrongly)
does that work? You should just have a single txn to check off - ie the
Opening Balance txn. If that works, report back to us.
> 4. Having worked our the logic of 'view' (not a whole lot in the help
> about it, afaics.) I am working my way along another a/c tidying up
> things like cheques being entered on the date they were written as
> opposed to the date they were cleared, etc. I am making good progress,
> learning that I should do reconciliations more often, some people take a
> long time to present the cheques ;-)
What do you mean about "logic of 'view'"?
Yes, probably best to reconcile to *every* statement your bank sends out!
>
> 5. The numbers on the screen grab are exactly what my problem is. In
> some of my (very simple, not many entries) a/cs the numbers balance out
> nicely, as they should. I appreciate that a 'perfect' reconciliation
> should have no 'loose' centimes, but if the figures are within that sort
> of limit, I don't worry, I am not auditing a multinational.
I don't understand the idea of an imperfect reconcilliation. Either you &
your bank agree about things, or you don't. I get that you can look at the
running balance of an account and say "yep, close enough" but that is NOT
reconcilling.
Maf.
>
> Maybe I should just work on the appropriate 'view' in this a/c, say,
> month by month, tidying up the issues, and see what happens?
>
> Thanks again for your patience.
>
> Finbar
--
Maf. King
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