[GNC] I just don't understand reconciliation

[Adrien Monteleone]

To add on one more tidbit for an anticipated question:

It isn’t very likely that a charge will take more than 24 hours to settle. (business sales charged on delivery with long lead times would be different of course) You might have a few that will be charged at the end of one period and not clear till the next. But those aren’t included on that statement, so they might be ‘cleared’ but not ‘reconciled’ till the next statement because they aren’t part of that ending balance calculation. That is perfectly normal. The Sun has continued to rise every day despite this fact.

Long delivery times make tracking charges/clearings more cumbersome, but not impossible. Reconciliation isn’t concerned with that though.

The *purpose* of reconciliation is not to reconcile the transactions, it is to reconcile the ENDING BALANCE as of the statement date.

Regards,
Adrien

> On Jun 18, 2019, at 6:54 PM, Adrien Monteleone <adrien.monteleone at lusfiber.net> wrote:
> 
> YES! That’s how it works. Unless you want to verify it online, then you can ‘c’ them earlier and likely just enter an ending balance and then click `Finish` when the statement comes in. (maybe check off a few cleared items in the interim to make sure you balance)
> 
> But that really isn’t a ‘month behind’. You’ll probably get the statement a few days after the period close. If you get it electronically, maybe even same day or next day. Reconcile is a PERIOD process. So you can’t do it till the period ends.
> 
> Regards,
> Adrien
> 
>> On Jun 18, 2019, at 6:47 PM, ToddAndMargo via gnucash-user <gnucash-user at gnucash.org> wrote:
>> 
>>> 
>> 
>> So basically, I need t wait for my next statement to come to "c" the
>> charges that did not make it on the current statement.  So reconcile will always be a month behind.
>> 
>