I'm having trouble understanding the GnuCash Reconciliation window. Specifically, the Ending Balance, Reconciled Balance, and Difference. Note: I'm not using GnuCash for my personal finances. And I'm not doing that because I'm good with my finances. I have struggled with this stuff.
You may want to jump to the end of this message. But here is a detailed explanation of my situation. Credit Card Statement Says Previous Balance: $9,851.37 Payments Made During This Statement Period ... $9,843.38 ... $7.99 = $9,851.37 So I effectively begin this statement period with a $0 balance on my credit card. Purchases $4,448.88 ... 69 purchase transactions GnuCash What should my opening balance be? In my Credit Card Ledger I begin with a transaction named "Opening Balance", Transfer Account: "Equity: Opening Balances", Charge: $9,851.37. That shows in the "Equity: Opening Balances" ledger as a "Decrease" of $9,851.37. So I begin this credit card statement period with a liability balance of $9,851.37. Just as the Credit Card Statement says: Payments are Made During This Statement Period ... $9,843.38 ... $7.99 = $9,851.37 Payments Made Then just as on the credit card statement I go on to make 69 purchase transactions totaling $4,448.88. I go to the GnuCash Reconciliation window ... Funds In Total: $9,851.37 ... Funds Out Total: $14,300.25 Simple math shows me: Funds Out $14,300.25 - Funds In $9,851.37 = $4,448.88 So, I'm doing something right. But the GnuCash reconciliation window also shows me: Ending Balance: -$4,448.88 Reconciled Balance: $4,448.88 Difference: $8,897.76 Shouldn't I get to "Difference = $0". This looks like it's telling me I did something wrong. What am I missing here? Is this telling me that it is all matched and reconciled? _______________________________________________ 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.
