The purpose of reconciliation is to verify that from the last closing
date to the new closing date, the listed transactions cleared the
account and thus explain the change from the opening balance (last
closing balance) to the new closing balance listed on the statement.
The actual balance, in your books, on a given day, or as of a given
day, is irrelevant to that reconciliation.
Precisely. You EXPECT there to be a difference based on checks written
(appear in the gnucash account) that have not yet cleared. In other
words, the main part of the job (if no errors) is to verify that the
total of checks written but uncleared matches the difference between the
bank statement of the account and the gnucash account as of the date of
the statement.
When it still doesn't match you then need to find the error, a check not
entered for the correct amount. Usually at your end but once I had one
of these at a bank end.
Michael D Novack
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