[GNC] GnuCash Reconciliation Window

[David H]

Tom,

Check the signs - one is positive the other is negative they should be the
same signage.  The difference between +$4,448.88 and -$4,448.88 is
$8,897.76.  Have you set up the credit card as a liability, do you have
"Accounts" >> "Reverse Balance Accounts" checked on in preferences etc.
Your final reconcile window needs to have the same sign for all 3 Balance
amounts - see below example.

Cheers David H.

[image: image.png]


On Tue, 28 Nov 2023 at 04:02, Tom Balazs <tom123online at gmail.com> wrote:

> I'm having trouble understanding the GnuCash Reconciliation window.
> Specifically, the Ending Balance, Reconciled Balance, and Difference.
> Note: I'm not using GnuCash for my personal finances. And I'm not doing
> that because I'm good with my finances. I have struggled with this stuff.
>
> You may want to jump to the end of this message. But here is a detailed
> explanation of my situation.
>
> Credit Card Statement Says
> Previous Balance: $9,851.37
> Payments Made During This Statement Period
> ... $9,843.38
> ... $7.99
> = $9,851.37 So I effectively begin this statement period with a $0 balance
> on my credit card.
> Purchases $4,448.88
> ... 69 purchase transactions
>
> GnuCash
> What should my opening balance be?
> In my Credit Card Ledger I begin with a transaction named "Opening
> Balance", Transfer Account: "Equity: Opening Balances", Charge: $9,851.37.
> That shows in the "Equity: Opening Balances" ledger as a "Decrease" of
> $9,851.37.
> So I begin this credit card statement period with a liability balance of
> $9,851.37.
> Just as the Credit Card Statement says: Payments are Made During This
> Statement Period
> ... $9,843.38
> ... $7.99
> = $9,851.37 Payments Made
>
> Then just as on the credit card statement I go on to make 69 purchase
> transactions totaling $4,448.88.
>
> I go to the GnuCash Reconciliation window
> ... Funds In Total: $9,851.37
> ... Funds Out Total: $14,300.25
> Simple math shows me: Funds Out $14,300.25 - Funds In $9,851.37 = $4,448.88
> So, I'm doing something right.
>
> But the GnuCash reconciliation window also shows me:
> Ending Balance: -$4,448.88
> Reconciled Balance: $4,448.88
> Difference: $8,897.76
> Shouldn't I get to "Difference = $0". This looks like it's telling me I did
> something wrong.
> What am I missing here? Is this telling me that it is all matched and
> reconciled?
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