[GNC] Reconciliation question

[R Losey]

On Mon, Sep 23, 2024 at 11:20 AM Boniforti Flavio <boniforti.f at gmail.com>
wrote:

> Hi there.
>
> When I reconcile my credit card, I'm faced with two dates:
> - the date when the bill was created (e.g. 13.02.2024);
> - the date when the bill was paid from my checking account (e.g.
> 28.02.2024)
>
> When I reconcile, what date should I enter? The billing date or the date of
> the effective payment from my checking account?
>
> Thanks,
> F.
>



For credit cards, I find it best to use the date on which the statement is
closed out. It is possible to reconcile to "now"; I've done that for
checking / saving accounts....  the main point of reconciling is to make
sure that (1) you haven't missed entering some charges/credits (2) There
aren't false charges/credits on your card (3) that the amounts of the
charges/credits in your records and from the bank are the same (most of the
time, any difference is caused by my own typo, but I have caught banks
making errors a few times).


-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8