[GNC] Bank Balance Higher Than Actual

[G R Hewitt]

Hello Paul,
There are many possible reasons why your GnuCash (GC) bank balance is
higher than the actual bank account, and so you will need to be methodical
in your approach to fixing it.
In the first instance, I would go through the statements from the bank and
see if there are any entries that you cannot account for or don't recognise
and investigate those. When satisfied that the bank account is as it should
be, I would then check the bank entries in the GC bank account(s) against
the
bank statement proper and make the necessary corrections until the GC bank
accounts agree with the bank, putting anything you can't immediately figure
out into a suspense account for later investigation.
When the GC bank account(s) agree with the bank statements, you are then
better placed to sort out the internal GC accounting errors. Be mindful
that fixing one error may raise another,
so fix them as they arise before moving onto the next. Don't expect this to
be a five minute job, you will be disappointed. Finally, make notes as you
go as to what was wrong, these will prove useful later on.
And yes, reconciling, religiously, every month is a far better proposition
than ' ... every year or so'.

On Sat, 24 Feb 2024 at 08:16, Paul Roberts <paul at roatanschools.org> wrote:

> Since the invoice amount shows up in Accounts Receivable I will need to
> investigate more closely to discover why the statement balance is so much
> higher than the actual bank balances. One reason would be that someone is
> stealing our money, but I find that quite hard to believe. The other
> explanation is that I am not posting all our expenses. I guess I will keep
> on searching for the answer.
>
> Another way to take care of this is to reconcile the balances each month
> and not just each year or so.
>
> Thanks for your response.
>
> On Tue, Feb 20, 2024 at 4:11 PM Murugan Muruganandam <
> m.muruganandam at hotmail.com> wrote:
>
> > hi Paul
> >
> > one way of checking is running reconciliation on the bank account and
> > check your bank statement.
> >
> > also, when you create invoice it will be affecting only the receivables,
> > on payment it will update the balances in your bank account
> >
> >
> >
> > Saludos Cordiales
> >
> >
> > Murugan
> > ------------------------------
> > *From:* gnucash-user <gnucash-user-bounces+m.muruganandam=
> > hotmail.com at gnucash.org> on behalf of Paul Roberts <
> paul at roatanschools.org
> > >
> > *Sent:* Monday, February 19, 2024 1:02 PM
> > *To:* gnucash-user at gnucash.org <gnucash-user at gnucash.org>
> > *Subject:* [GNC] Bank Balance Higher Than Actual
> >
> > The bank balance in gnucash is much higher than the actual balance. Is
> > there some way that I can find out why? When an invoice is created does
> > that amount add to the bank balance?
> >
> > --
> >
> > Paul L Roberts, Ph.D.
> >
> > Head of School
> >
> > Bay Islands International School
> >
> > East Sandy Bay Beach Road, Sandy Bay
> >
> > Roatan, Islas de la Bahia, Honduras
> >
> > +504 9817-0344
> >
> > +504 9335-5272
> >
> > www.roatanschools.org
> >
> > Education That Will Take You Anywhere
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>
> --
>
> Paul L Roberts, Ph.D.
>
> Head of School
>
> Bay Islands International School
>
> East Sandy Bay Beach Road, Sandy Bay
>
> Roatan, Islas de la Bahia, Honduras
>
> +504 9817-0344
>
> +504 9335-5272
>
> www.roatanschools.org
>
> Education That Will Take You Anywhere
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> To update your subscription preferences or to unsubscribe:
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
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> Please remember to CC this list on all your replies.
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