On Wed, 14 Dec 2022 at 03:45, R Losey <rlo...@gmail.com> wrote: > I assume you can reconcile an asset account like any other bank > account.... you can tell it the date you want to reconcile, but it lists > all of the transactions... >
My understanding is that the purpose of the reconciliation is to enable one to compare that the balances of two sets of accounts are in agreement. The most obvious example being that the amount of money that your bank says you have agrees with one's own records. In order to do that one needs to know what the bank says your balance is on a particular date. In the case of reconciling the PayPal account, one would need to know what PayPal says the balance is. If I log into my business bank account, personal bank account or credit card using the mobile app on the phone, I can see what the financial institutions say my balance is on any date I want. But what PayPal says my balance is on any particular date is not easy to find. One has to download a CSV or similar list, and in the case of the CSV file, the balance is the 34th (from memory) column - well away from other numerical data. Only once I know what PayPal thinks the balance is can I compare it to my own records in GnuCash, and see if there are any discrepancies. One's PayPal balance can change, without one making any transactions. I sold something to an Indian academic, and got credited with £1000 or thereabouts. I withdrew the money to my bank account. He then claimed some parts were missing, so put in a claim, wanting extra parts. That made the balance negative, despite there had been no transaction. Dave _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
