[GNC] End of Year?

[Phyllis Bruce]

Thanks for the explanation.   I guess it's a matter of personal
preference.  If I'm starting a new file I want to be able to reconcile to
my statement when it's received in 2024.  It does not bother me to have
uncleared items in the archived file.  I could even go so far as to delete
them from the 2023 archive but that would be overkill imho.

On Sat, Jan 13, 2024 at 10:37 AM Gyle McCollam <gmccollam at live.com> wrote:

> Phyllis,
> If you enter unreconciled transactions again in 2024 you will have doubled
> counted them because they will be in 2023 and 2024.  They are already
> accounted for in the balance.  Since reconciliation is just matching what
> has cleared with the statement it is OK that the transactions are not in
> 2024 as long as you know that they were in 2023 and any that have not clear
> in 2024 are the difference between your statement and account balance per
> the statement.
>
> Thank You,
>
> *Gyle McCollam*
>
> Gyle McCollam
>
> gmccollam at live.com <gmccollam at gyleshomes.com>           email
> ------------------------------
> *From:* gnucash-user <gnucash-user-bounces+gylemc=gmail.com at gnucash.org>
> on behalf of Phyllis Bruce <pobruce46 at gmail.com>
> *Sent:* Saturday, January 13, 2024 10:56 AM
> *To:* adrien.monteleone at lusfiber.net <adrien.monteleone at lusfiber.net>
> *Cc:* gnucash-user at lists.gnucash.org <gnucash-user at lists.gnucash.org>
> *Subject:* Re: [GNC] End of Year?
>
> I did mean checking/savings and credit card accounts.  Thanks
>
> Since I use Gnucash for personal rather than business use, I don't
> "close" the books.  However, if I wanted to archive 2023 and start fresh on
> Jan 1, 2024, I would enter any unreconciled transactions in those accounts
> in your A2b example because the beginning balances would include them.
>
> On Sat, Jan 13, 2024 at 8:19 AM Adrien Monteleone <
> adrien.monteleone at lusfiber.net> wrote:
>
> > *ALL accounts are 'credit and debit' accounts. But perhaps you mean
> > Checking & Credit Card accounts? (i.e., those held at a 3rd party
> > financial institution, since you are referencing 'reconciliation'.)
> >
> > Reconciliation is usually done prior to a Trial Balance as part of the
> > End of Year process and that not infrequently is done up to a month
> > (sometimes more) after the calendar date of the end of the period. It is
> > not uncommon to see P&L and Balance Sheet reports published in February
> > for periods ending December 31.
> >
> > Otherwise, correcting entries are employed. This is usually the case
> > with Accruals that cross period boundaries. You reverse the portion of
> > an amount that doesn't apply to the period being closed, and add it back
> > in the following period. (this also occurs for interim periods such as
> > months or quarters)
> >
> > Exactly what you do, depends on the requirements of your local
> > jurisdiction.
> >
> >
> > Regards,
> > Adrien
> >
> > On 1/13/24 8:03 AM, Phyllis Bruce wrote:
> > > Hmmmm, would you not also need to re-enter any unreconciled
> transactions
> > in
> > > your credit and debit accounts?
> >
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