With 'cash accounting' it's trivial to ensure the end of year figures
are correct, they **must** be the same as the bank statement for 31st
December. Similarly uncashed cheques simply don't appear, a cheque
payment only appears in the accounts when it is actually debited from
the bank account.
Uh .... not so the way I learned to keep books,
a) A check that has been received but not yet deposited would be in
"undeposited cash" and not the bank account. It is YOUR (the
organization's) when received. The date of the bank deposit is just a
transfer between asset accounts,
b) A check has legally left your account when it has been written and
"constructive delivery" made << why postmark date/time can have legal
importance >> The date at which it gets back to your bank and is charged
against your account has no legal relevance. So the date when written
(assume mailed same day) is the effective date of the transaction in
your books,
In other words, you have to reconcile the bank account for Dec 31st just
like any other month end bank statement. Just because you are on the
case basis does not mean what you seem to think it does.
Michael D Novack
PS: I am meaning "reconcile": in its old sense rather than specifically
a process of gnucash.
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