[GNC] Reconciliation question

[Boniforti Flavio]

Hi David.
Maybe I'm understanding it now... let me try:
when I get the credit card bill I reconcile the "Funds Out" by matching
what I see in the right part of the pop-up in GC against the entries listed
in the credit card bill;
at the same time I have to reconcile the "Funds In" by matching that number
to what is declared in the bill regarding the last bill paid.

Please excuse me that it's in German, but this is how it looks like for the
latest credit card bill.
[image: image.png]
The lines translate as
"Amount last bill"
"Direct-Debit payment"
"Card total"
"Card total"
And at the end the total amount of this bill.

Therefore when I want to reconcile I have to tell GC that both the previous
bill is OK (1418.45) and also the individual transactions for the actual
time period.

I hope I got it right!
F.

https://www.instagram.com/boniforti_music
https://soundcloud.com/boniforti_music
https://bonny-j.bandcamp.com


Am Di., 24. Sept. 2024 um 07:17 Uhr schrieb David Cousens <
davidcousens49 at gmail.com>:

> Flavio,
>
> If you look at your bank statement for the Credit card it records both
> the charges you made against the account (Funds Out) and the Payments
> received by the bank in that period (Funds In), which in most cases
> will be payment of an amount for the previous periods bill and
> similarly the Credits to your credit account record your record of the
> chrges(Funds Out) and the Payments you have made in the period (Funds
> in).
>
> Closing Balance= Starting Balance - Funds Out + Funds In
>
> For a good reconciliation all of the following quantities ( including
> the individual transactions) should match exactly between the  bank's
> record (statement) and your record, the Credit Card account in GnuCash.
>
> David Cousens
>
> On Mon, 2024-09-23 at 23:40 +0200, Boniforti Flavio wrote:
> > Hi Maf.
> >
> > I understand reconciling the "Fund Out" - I compare the right part of
> > the
> > window with what's stated on the credit card bill.
> > I have a hard time understanding the reconciliation of the "Funds In"
> > part:
> > when I reconcile the right part, I do have the old "Funds In" on the
> > right... the one I used for reconciling the previous month...
> >
> > So to me it feels like some sort of "delayed" reconciliation. First I
> > agree
> > on the "Funds Out" comparing the credit card bill of this month. Then
> > the
> > next month I will reconcile again the Funds Out with the credit card
> > bill -
> > but at the same time I have to reconcile the "previous" "Funds In"?
> >
> > Sorry, but maybe this is a lack of accounting knowledge on my end :-(
> >
> > F.
> >
> > https://www.instagram.com/boniforti_music
> > https://soundcloud.com/boniforti_music
> > https://bonny-j.bandcamp.com
> >
> >
> > Am Mo., 23. Sept. 2024 um 23:29 Uhr schrieb Maf. King
> > <maf at chilwell.net>:
> >
> > > On Monday, 23 September 2024 18:31:48 BST Boniforti Flavio wrote:
> > > > Oh, ok!
> > > > So I have to tick "R"econcile on the left part (Funds In) as
> > > > well?!
> > > Indeed,
> > > > by doing so it lets me finish the reconciliation.
> > > > Now I'm curious to understand why it has to be done like this -
> > > > can you
> > > > explain?
> > > > F.
> > >
> > > To "reconcile" means (more or less) "to come to an agreement"
> > >
> > > You and the bank come to "agree" on the state of your account at
> > > some
> > > point in
> > > time..... You "reconcile" your version against their statement.  If
> > > (for
> > > example) they have charged you twice for something, then you tell
> > > them and
> > > hopefully get a resolution you are happy with.
> > >
> > > naturally, you want to agree on both funds in and funds out of the
> > > account!
> > >
> > > HTH,
> > > Maf.
> > >
> > >
> > >
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