[GNC] I just don't understand reconciliation

ToddAndMargo ToddAndMargo at zoho.com
Tue Jun 18 19:27:00 EDT 2019


On 6/18/19 4:20 PM, Adrien Monteleone wrote:
> 
>> On Jun 18, 2019, at 6:04 PM, ToddAndMargo via gnucash-user <gnucash-user at gnucash.org> wrote:
>>
>> On 6/18/19 3:43 AM, Maf. King wrote:
>>> Yep, the Balance button will insert a transaction into your account to make it
>>> balance with the statement finishing total.   It's effectively a short cut when
>>> you can't be bothered to keep careful track of all your txns.
>>> Maf.
>>
>> Here is the rub.  The date I make the charge and date when
>> the charge "Posts" are often two different dates.
> 
> Irrelevant to the reconciliation process. (well, for most purposes, for most transactions, there are some corner cases where it might matter.)
> 
>>
>> If I where to change all my charge dates to post dates, this
>> would not be an issue,  But that makes for a nightmare to
>> keep up.  I need to know what date I placed an order and I
>> also need to not be spending hours changing dates.
> 
> You shouldn’t be changing dates during or prior to reconciliation as part of the reconciliation.
> 
> Enter the transactions on their actual dates.
> 
> If before reconciliation, you want to mark them as ‘cleared’ that is, posted and recognized on your account (say, viewing it online) then click the ’n’ to make it a ‘c’.
> 
> When you perform the reconciliation, these transactions will be checked off for you already. (you’ve already verified they are included in the ending balance calculation - that is what “cleared” means.)
> 
> As noted in the other thread, you can use the Notes field to record the posting date if you feel you really need it. You could also use the Action field if you are not otherwise using it or put that info in one of the split memo fields, likely the one assigned to the credit card accoun. (you’ll need to view splits, or use Transaction Journal view)
> 
> The transactions dates in your books and the posting dates on your credit card statement *do not* have to match and likely will not. But the statement *should* allow you to see the original ‘charge’ date even though it may have settled later. (or at least the info should be available online)
> 
> 
>>
>> Why is if not using my "c" and "n" fields?   Why can it just
>> reconcile the entries I have "c" checked?
> 
> It does, and then some potentially.
> 
> Reconciliation is *NOT* a transaction by transaction process. It is a period to period process. It is verifying WHY the account balance changed from the opening amount to the closing amount over a time period. The individual transactions are the “why”. If the cleared transactions don’t add up to the full difference between the open/close amounts, then either you need to check off additional transactions, uncheck one of the previous assumed cleared transactions (perhaps it wasn’t really cleared) or you are missing a transaction. In that last case, you either enter the missing transaction, or use the `Balance` button to create an adjusting transaction for you. I usually assign this balancing transaction to a Expenses:Miscellaneous:Balancing account so I can either figure it out later, or else have some idea more than just Imbalance-XXX or Orphan-XXX as to why it is in my books.
> 
>>
>> Otherwise, unless I am missing something really big,
>> "reconcile" is pretty much useless.  I hope it is
>> my problem, as I can fix that.
> 
> No, it is useful because it verifies periodically that your records and the bank’s records —match. That is its purpose.
> 
> Regards,
> Adrien


Adrian,

If it add spurious entries for translations that have not passed
during the date periods I am checking, it is useless.  It would
only work if I altered all my charge dates to their actual
post date.  That I DO NOT WANT.

The box in the lower right corner of the reconcile field is very
useful.  The reconcile feature is not.  I will just use that and
press cancel when I am happy

-T




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