[GNC] Bank statement

[David Cousens]

James,

Your bank statement should have the following identifiable information

Opening balance at the start of the period of the statement

Closing Balance at the closing date of the statement period.

List of transactions which are included in the statement which will sum to the
difference between the opening and closing balances. Some will be debits and
some credits and it is the difference between the sum of the credits and the sum
of the debits which will equal the difference between opening and closing
balances.

Your records for the same period may not be identical to the bank's. You will
record transactions at a date/time which is relevant to you. The bank may record
the same event at a different date and time, e.g. when funds are cleared to them
from another bank for example. 

The process of reconciliation consist of identifying the transactions in the
bank's statement in your own records and then ensuring that your opening
balance, closing balance and difference in the sum of debits   and credits of
the transactions in the period of the bank's statement are present in your
records but not necessarily at exactly the same date and time. Some in your
records may be outside the  period as defined in the bank's statement.

You say the bank supplies two forms of the statement? Often banks may provide
access to downloadable transaction records in OFX or CSV or other formats for
example, but this is not a statement. It is provided for convenience and as one
means to enter data into your records.  A statement however is usually a written
record and is usually delivered as a signed paper copy or an emailed PDF copy.

Hope this helps make reconciliation a bit clearer for you

David Cousens

On Thu, 2023-05-11 at 23:38 +0000, James Baxter via gnucash-user wrote:
> As I ask a question to do with reconcile a bank statement. 
> The bank gives me the starting amount,  but this is given to me, two ways.
> Why. I don't know. I have all the items in the Gnucash. But it won't balance. 
> ThanksJames Baxter P.s. I may not have given you enough info
> 
> Sent from Yahoo Mail on Android
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