But all of those accounts should be periodically reconciled unless you never post anything except by importing it. Regardless, that's a perfectly fine use-case, but I don't think that it's a common one or even that GnuCash is the best solution for it.
Regards, John Ralls > On Jul 4, 2020, at 9:50 AM, <py...@cox.net> <py...@cox.net> wrote: > > John -- I understand your point and I agree -- but in GnuCash I have real > estate values, mortgages, brokerage accounts, 401K accounts, car payment > loans, etc. to track all accounts in one package. So while you are correct > in your description (I am not really keeping a separate book for my bank > account per se), I still need GnuCash to keep track of all assets and > liability accounts because these are all from different banks or brokerage > companies. > > So -- specific just to checking account reconciliations in my situation -- it > is really no longer needed. As long as I have online access to and can see > my online transactions and account balance, the bank's record is my record - > because I have instant access to the balance 24/7. It is analogous to my > mother-in-call who calls every week. I can log in daily and always know what > my balance is and what has cleared. As you said -- nothing really to > reconcile to. GnuCash is just keeping the record of what has transpired. > Now... if online banking goes away... that's a whole different story! > > Ken > > > -----Original Message----- > From: John Ralls <jra...@ceridwen.us> > Sent: Saturday, July 4, 2020 9:17 AM > To: py...@cox.net > Cc: Michael Hendry <hendry.mich...@gmail.com>; Chris Good > <goodchri...@gmail.com>; Gnucash <gnucash-user@gnucash.org> > Subject: Re: [GNC] Keep the Reconciliation Feature (was Re: Gnucash 4.0 Paper > Clip and Link glyphs for file/web transaction associations) > > You're confusing reconciliation with processing paper statements. Regardless > of how you get the information from the bank the fact remains that there are > two sets of books--yours in GnuCash and the bank's--and they need to be > reconciled periodically to ensure that they agree. One could, of course, keep > one's GnuCash book by downloading transactions from the bank. In that case > you're not keeping a separate book and there's no point to reconciliation. > But why bother with GnuCash if you're going to do that? > > Regards, > John Ralls > > >> On Jul 4, 2020, at 5:38 AM, py...@cox.net wrote: >> >> Michael -- again - it is a matter of personal preference. Every instance >> you talk about is absolutely true for banking in the old days. I, too, used >> to think that bank rec's were absolutely necessary -- in fact, as an auditor >> for 30 years - I recommended them as a must have! >> >> But, with easy, on-line, instant access to balances and statements, >> all-electronic payments (I maybe wrote 3 checks all of last year), and >> better and faster electronic payment systems, the need for monthly >> reconciliations has gone the way of the horse and buggy - for many people >> (not all - and certainly not for businesses who write hundreds of check). >> It does get you where you absolutely need to go -- it just is an old and >> tired mode of transportation that have been surpassed by better and faster >> ways to get to the same place! >> >> Ken >> >> (PS -- my mother-in-law still uses bank by phone to call the bank for >> her balance instead of going online to see her balance. She does not >> get paper statements because all banks charge for them now. She still >> keeps a paper register as well. She reconciles manually once a week. >> See the analogy?) >> >> -----Original Message----- >> From: gnucash-user <gnucash-user-bounces+pyz01=cox....@gnucash.org> On >> Behalf Of Michael Hendry >> Sent: Friday, July 3, 2020 11:53 PM >> To: Chris Good <goodchri...@gmail.com>; Gnucash >> <gnucash-user@gnucash.org> >> Subject: [GNC] Keep the Reconciliation Feature (was Re: Gnucash 4.0 >> Paper Clip and Link glyphs for file/web transaction associations) >> >>> On 4 Jul 2020, at 02:45, Chris Good <goodchri...@gmail.com> wrote: >>> >>> Hi Ken, >>> >>> I'm afraid I'm in the group that finds reconciling very useful. I >>> want to know if anyone is charging me when they shouldn't be, without >>> having to check my phone all the time. Admittedly it happens so >>> infrequently I could probably do without it, but I sleep better with it. >>> >>> I know a developer is considering restructuring the columns to make >>> better use of wider displays. Maybe that will help you in future. >>> Myself, I don't really want to use the whole screen, but who knows, I >>> often find I automatically dislike change but end up liking it. >>> >>> Regards, >>> Chris Good >> >> >> I agree with Chris that reconciliation is very useful, and I’d go so far as >> to say essential. >> >> Without it, my reaction to an incoming bank or credit card statement >> couldn’t be more precise than “that looks about right”, with a gradual slide >> away from synchronisation. >> >> A few examples: >> >> My pension is paid net of tax and I set up a Scheduled Transaction (Sx) at >> the start of the financial year. My tax code varies through the year, and >> the net payment is tweaked during the year to get the whole-year tax-take >> correct - reconciliation allows me to knock these small differences into >> line. >> >> Similarly, my mobile phone bill includes most of what I need in a fixed >> monthly payment, recorded by Sx, but occasionally adjusted to deal with >> surcharges for out-of-contract services. >> >> Apart from my personal accounts, I deal with the bookkeeping for two small >> charities, whose accounts have to be certified by a qualified accountant for >> submission to the Office of the Scottish Charity Register. “About right” is >> not sufficient for this purpose, and as our accountants charge nominal sums >> for the service it is a matter of common courtesy to minimise (if not >> abolish altogether) any queries. One particular example from last year was >> an unpresented cheque which had been sent to another charity for a joint >> project and recorded through our books some months before the end-of-year. >> >> Regards, >> >> Michael Hendry >> >> >> _______________________________________________ >> gnucash-user mailing list >> gnucash-user@gnucash.org >> To update your subscription preferences or to unsubscribe: >> https://lists.gnucash.org/mailman/listinfo/gnucash-user >> If you are using Nabble or Gmane, please see >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. >> ----- >> Please remember to CC this list on all your replies. >> You can do this by using Reply-To-List or Reply-All. >> >> _______________________________________________ >> gnucash-user mailing list >> gnucash-user@gnucash.org >> To update your subscription preferences or to unsubscribe: >> https://lists.gnucash.org/mailman/listinfo/gnucash-user >> If you are using Nabble or Gmane, please see >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. >> ----- >> Please remember to CC this list on all your replies. >> You can do this by using Reply-To-List or Reply-All. > > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. 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