Yes that is the reconciliation process and why there are two panes in the reconciliation window. The timing depends a lot upon how you use your credit card, when the payments are made but generally those paying off the charges from a previous statement period will take place during the following statement period and both the charges and payments made in a given statement period have to be matched and checked off. The reconciliation process automatically includes transactions from your GnuCash account in those windows and checks the checkboxes against them but the dates in your records and the banks don't always match up. Usually if the opening and closing balances in both the banks records and yours match then the right transactions will have been checked but I prefer to clear all the checkboxes, copy my statement into an open spreadsheet and manually match and check the items in the reconciliation panes and the spreadsheet, particularly when reconciling my credit card because there are generally more date mismatches, less so with bank accounts.
David On Tue, 2024-09-24 at 19:14 +0200, Boniforti Flavio wrote: > Hi David. > Maybe I'm understanding it now... let me try: > when I get the credit card bill I reconcile the "Funds Out" by > matching what I see in the right part of the pop-up in GC against the > entries listed in the credit card bill; > at the same time I have to reconcile the "Funds In" by matching that > number to what is declared in the bill regarding the last bill paid. > > Please excuse me that it's in German, but this is how it looks like > for the latest credit card bill. > image.png > The lines translate as > "Amount last bill" > "Direct-Debit payment" > "Card total" > "Card total" > And at the end the total amount of this bill. > > Therefore when I want to reconcile I have to tell GC that both the > previous bill is OK (1418.45) and also the individual transactions > for the actual time period. > > I hope I got it right! > F. > > https://www.instagram.com/boniforti_music > https://soundcloud.com/boniforti_music > https://bonny-j.bandcamp.com > > > Am Di., 24. Sept. 2024 um 07:17 Uhr schrieb David Cousens > <davidcousen...@gmail.com>: > > Flavio, > > > > If you look at your bank statement for the Credit card it records > > both > > the charges you made against the account (Funds Out) and the > > Payments > > received by the bank in that period (Funds In), which in most cases > > will be payment of an amount for the previous periods bill and > > similarly the Credits to your credit account record your record of > > the > > chrges(Funds Out) and the Payments you have made in the period > > (Funds > > in). > > > > Closing Balance= Starting Balance - Funds Out + Funds In > > > > For a good reconciliation all of the following quantities ( > > including > > the individual transactions) should match exactly between the > > bank's > > record (statement) and your record, the Credit Card account in > > GnuCash. > > > > David Cousens > > > > On Mon, 2024-09-23 at 23:40 +0200, Boniforti Flavio wrote: > > > Hi Maf. > > > > > > I understand reconciling the "Fund Out" - I compare the right > > part of > > > the > > > window with what's stated on the credit card bill. > > > I have a hard time understanding the reconciliation of the "Funds > > In" > > > part: > > > when I reconcile the right part, I do have the old "Funds In" on > > the > > > right... the one I used for reconciling the previous month... > > > > > > So to me it feels like some sort of "delayed" reconciliation. > > First I > > > agree > > > on the "Funds Out" comparing the credit card bill of this month. > > Then > > > the > > > next month I will reconcile again the Funds Out with the credit > > card > > > bill - > > > but at the same time I have to reconcile the "previous" "Funds > > In"? > > > > > > Sorry, but maybe this is a lack of accounting knowledge on my end > > :-( > > > > > > F. > > > > > > https://www.instagram.com/boniforti_music > > > https://soundcloud.com/boniforti_music > > > https://bonny-j.bandcamp.com > > > > > > > > > Am Mo., 23. Sept. 2024 um 23:29 Uhr schrieb Maf. King > > > <m...@chilwell.net>: > > > > > > > On Monday, 23 September 2024 18:31:48 BST Boniforti Flavio > > wrote: > > > > > Oh, ok! > > > > > So I have to tick "R"econcile on the left part (Funds In) as > > > > > well?! > > > > Indeed, > > > > > by doing so it lets me finish the reconciliation. > > > > > Now I'm curious to understand why it has to be done like this - > > > > > can you > > > > > explain? > > > > > F. > > > > > > > > To "reconcile" means (more or less) "to come to an agreement" > > > > > > > > You and the bank come to "agree" on the state of your account > > at > > > > some > > > > point in > > > > time..... You "reconcile" your version against their > > statement. If > > > > (for > > > > example) they have charged you twice for something, then you > > tell > > > > them and > > > > hopefully get a resolution you are happy with. > > > > > > > > naturally, you want to agree on both funds in and funds out of > > the > > > > account! > > > > > > > > HTH, > > > > Maf. > > > > > > > > > > > > > > > > _______________________________________________ > > > > 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.
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