Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [reconciling]

18 questions
19
votes
2 answers

What's the difference between 'cleared' and 'reconciled' in my financial accounting software?

Been using GNUCash for the past four years, and I'm slowly learning the more advanced features over time. Until now I've never needed to bother with future dated transactions, but recent large unanticipated expenses in a short timespan are…
jldugger
  • 7,437
  • 3
  • 35
  • 57
10
votes
4 answers

When bookkeeping, which transaction date should I use from my bank statement?

When reconciling my bookkeeping with my bank statement, should I use the date the transaction occurred or the date the bank processed the transaction? Also, which date should I use when transferring money from one bank account to another? The…
Mark Northrop
  • 203
  • 1
  • 2
  • 5
3
votes
2 answers

Why doesn't GnuCash auto-reconcile non-bank accounts?

I use GnuCash for the sole purpose of keeping track of my personal finance. When I do my monthly reconciliation on my checking account, savings account, and credit card account and everything is all fine and nice, I do realize that the income &…
AnonymousArmadillo
  • 33
  • 4
3
votes
1 answer

How important is reconciling accounts for a small LLC (Quickbooks)?

We are in our first year of starting a small LLC. We are using Quickbooks Online and things are going well. The only exception is that, due to our lines of credit and bank accounts being personal (shared with business), we are having trouble…
Brian David Berman
  • 849
  • 3
  • 12
  • 25
2
votes
2 answers

How to reconcile a credit card that has an ongoing billing dispute?

I currently have an ongoing billing dispute/inquiry on my American Express Business Charge Card that is causing me problems when reconciling this account in Quickbooks. Since my statement balance doesn't reflect the dollar amount in dispute, how…
Brian David Berman
  • 849
  • 3
  • 12
  • 25
2
votes
2 answers

Gnucash: Default reconcile date to today?

When I begin reconciling an account in GnuCash, the statement date field is populated with a value that seems to be random. Is there a way to make it default to the current date?
Tony
  • 217
  • 1
  • 4
1
vote
1 answer

Xero - How to reconcile a transaction when the period has been locked

I use Xero for my consultancy company's book-keeping. My accounts from a couple of months ago are locked (due to submitting a VAT (UK sales tax) return). I have an unreconciled bank transaction within that period. If I try to reconcile it, Xero…
Daniel Winterstein
  • 123
  • 5
1
vote
0 answers

Quickbooks credit card reconciliation

When I put a payment into Quickbooks through the enter bills section and then pay it, when I go to reconcile the account the payment does not show up. Why would this be and how can it be placed in the proper area to be reconciled?
Rosa Delgado
  • 11
  • 1
1
vote
0 answers

How do I reconcile a pre-payment on a credit card in Quickbooks?

I have two payments to credit card for the same period. One is tied to last month's reconciliation but the other one is just a prepayment because I wanted to charge the account over my limit, so I prepaid the credit card. I am trying to reconcile…
Jenny H
  • 11
  • 1
1
vote
1 answer

How to record returned bank transfer

I have a situation where a bank transfer was attempted but failed probably because of wrong account info. Now, on the bank statement, I have a debit for the amount and a credit for the amount being returned. Later I have an identical debit for when…
gq9000
  • 53
  • 2
1
vote
1 answer

GnuCash: Should I Record Fraudulent Charges?

I'm catching up on reconciling my checking account in GnuCash, discovered a fraudulent charge on the February 2023 statement, and noticed another fraudulent charge pending. Should I enter the fraudulent charges so my statements reconcile? I've never…
Eric Turner
  • 113
  • 4
1
vote
1 answer

A client paid a non-business debt into my business bank account. How to handle in Xero?

I purchased some groceries for my neighbour, and he reimbursed me by depositing funds into my business bank account (I have done some work for him occasionally), which automatically fed through to Xero. The transaction will look like sales in Xero,…
Highly Irregular
  • 289
  • 1
  • 3
  • 9
1
vote
1 answer

Reconciliation uses different number than entered

I'm doing a year-end reconciliation of one of my expense categories. In the reconcile-setup window, I enter the amount $36,387.59 for the ending balance: However, the amount shown in the subsequent reconciliation window is different by several…
Ken Williams
  • 151
  • 3
1
vote
1 answer

How to reconcile a checking account against bank statements?

My first thought on this matter, is that if the balance is off by a certain amount, one or more missing transaction should add (withdrawl or deposit) to the missing amount. The software I am using for this uses an SQL Backend (Money Manager Ex)…
leeand00
  • 1,110
  • 1
  • 12
  • 24
1
vote
1 answer

Help reconciling credit card with Amazon

I use Amazon a lot for business purposes, and so have a pretty large number of orders. However, matching credit card transactions against this is a nightmare. I guess amazon charges your card when they ship, so if you have an order with multiple…
Fraser Orr
  • 319
  • 2
  • 5
1
2