On 8/1/2023 4:29 AM, Ben Kamen wrote:
On 7/27/23 11:55 AM, Adrien Monteleone wrote:
GnuCash won't let you make 'double entry errors'.
Well - I think I used the wrong term...
When i say "double entry" - I'm meaning having to manually enter
transactions from banking statements into accounting software.I'd like
to avoid that if possible just to avoid the mistakes.
Maybe it ultimately won't matter. Haven't decided yet.
Cheers,
-Ben
a) Absolutely do not in this forum use the term "double entry" for other
than its main purpose.
b) NO, you should already have manually entered those transactions into
your books when you wrote the checks, made the EFT, made a deposit, etc.
Then when you have the (monthly?) statement from the bank you reconcile
what your account has with what the bank indicates you have. You make
sure these agree or at least know why they don't.
For example, if you are JUST bringing what the bank has into gnucash how
would you EVER detect that somehow an automatic monthly EFT was taking
place that you didn't set up (didn't think you had authorized).
Michael D Novack
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