Just to clarify further, I'm referring to Adrien's A2b option above of just entering ending balances for a new year.
On Sat, Jan 13, 2024 at 10:52 AM Phyllis Bruce <pobruc...@gmail.com> wrote: > Thanks for the explanation. I guess it's a matter of personal > preference. If I'm starting a new file I want to be able to reconcile to > my statement when it's received in 2024. It does not bother me to have > uncleared items in the archived file. I could even go so far as to delete > them from the 2023 archive but that would be overkill imho. > > On Sat, Jan 13, 2024 at 10:37 AM Gyle McCollam <gmccol...@live.com> wrote: > >> Phyllis, >> If you enter unreconciled transactions again in 2024 you will have >> doubled counted them because they will be in 2023 and 2024. They are >> already accounted for in the balance. Since reconciliation is just >> matching what has cleared with the statement it is OK that the transactions >> are not in 2024 as long as you know that they were in 2023 and any that >> have not clear in 2024 are the difference between your statement and >> account balance per the statement. >> >> Thank You, >> >> *Gyle McCollam* >> >> Gyle McCollam >> >> gmccol...@live.com <gmccol...@gyleshomes.com> email >> ------------------------------ >> *From:* gnucash-user <gnucash-user-bounces+gylemc=gmail....@gnucash.org> >> on behalf of Phyllis Bruce <pobruc...@gmail.com> >> *Sent:* Saturday, January 13, 2024 10:56 AM >> *To:* adrien.montele...@lusfiber.net <adrien.montele...@lusfiber.net> >> *Cc:* gnucash-u...@lists.gnucash.org <gnucash-u...@lists.gnucash.org> >> *Subject:* Re: [GNC] End of Year? >> >> I did mean checking/savings and credit card accounts. Thanks >> >> Since I use Gnucash for personal rather than business use, I don't >> "close" the books. However, if I wanted to archive 2023 and start fresh >> on >> Jan 1, 2024, I would enter any unreconciled transactions in those accounts >> in your A2b example because the beginning balances would include them. >> >> On Sat, Jan 13, 2024 at 8:19 AM Adrien Monteleone < >> adrien.montele...@lusfiber.net> wrote: >> >> > *ALL accounts are 'credit and debit' accounts. But perhaps you mean >> > Checking & Credit Card accounts? (i.e., those held at a 3rd party >> > financial institution, since you are referencing 'reconciliation'.) >> > >> > Reconciliation is usually done prior to a Trial Balance as part of the >> > End of Year process and that not infrequently is done up to a month >> > (sometimes more) after the calendar date of the end of the period. It is >> > not uncommon to see P&L and Balance Sheet reports published in February >> > for periods ending December 31. >> > >> > Otherwise, correcting entries are employed. This is usually the case >> > with Accruals that cross period boundaries. You reverse the portion of >> > an amount that doesn't apply to the period being closed, and add it back >> > in the following period. (this also occurs for interim periods such as >> > months or quarters) >> > >> > Exactly what you do, depends on the requirements of your local >> > jurisdiction. >> > >> > >> > Regards, >> > Adrien >> > >> > On 1/13/24 8:03 AM, Phyllis Bruce wrote: >> > > Hmmmm, would you not also need to re-enter any unreconciled >> transactions >> > in >> > > your credit and debit accounts? >> > >> > _______________________________________________ >> > 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. >> > >> _______________________________________________ >> 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. >> > _______________________________________________ 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.
