Small correction.. I believe it remembers the last two reconcile dates and
chooses the next one based on the time distance between the two. So if you
reconcile on Jan 1 and March 1, next one will be May 1.
-derek
Sent using my mobile device. Please excuse any typos.
On January 23, 2020 2:19:05 AM John Ralls <jra...@ceridwen.us> wrote:
On Jan 22, 2020, at 2:57 PM, David Cousens <davidcous...@bigpond.com> wrote:
Jean
Can't rtemember if it was discussed or not but there are possibly good
reasons for not using the ending balance of an OFX import as the starting
balance for a reconciliation.
1. Depending on when the download is done, the bank may or may not have
included all of its charges and interest whereas a statement is usually
provided some time after the period of the statement and has all appropriate
fees and charges and adjustments included up to the closing date of the
statement. By providing a statement the bank is certifying this.
2. Reconciliation is the process of ensuring the accounts transaction record
is in agreement with the bank's. The bank considers its records true and
correct when it provides a statement of account that is certified to be so.
3. The starting balance of the next reconciliation has to be the ending
balance of the previous reconciliation to ensure that no transactions are
missed or extra transactions included in the period of the statement.
Maybe the situation may become different if and when banks are prepared to
declare their download OFX records are true and correct at the time of
download.
Besides, the reconcile window doesn't necessarily default the reconcile
balance to the ending balance, it defaults it to the last running balance
on the reconcile date. If this is your first reconcile ever then it does
default to today, but if not it defaults to one month after the last
reconcile date.
Regards,
John Ralls
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