Hi, On Tue, April 7, 2020 11:47 am, Dale Phurrough wrote: > Cool use of cleared/reconciled for expenses. I can follow that general > approach. > I do have an inquiry regarding the need for the future when reconciling. > (What am I missing...or is there a gnucash feature I'm assuming exists > that > doesn't?) 🤔
The path I follow is CLOSE to the path you follow, except I do a few things at the same time in gnucash and post-date the transaction. More below.. > In my mind, I see two accounts > 1) bank account, e.g. Bank of America Checking > 2) the expenses, for simplicity lets put them all into a single > "Reimbursable Expenses" account In my case I also have a credit card account involved. Also, note, that the Reimbursable Expenses account is really an ASSET type. > As I think through this, I would hope you can following a workflow similar > the following: > 1. Enter multiple transactions into "Reimbursable Expenses" account for > all > such expenses Yes. These come from various places, like Credit Cards, Cash, etc. > 2. Submit expense reports and mark those expenses in "Reimbursable > Expenses" account as cleared > 3. Wait for check > 4. Receive reimbursement check on 1 May 2020 Correct. > 5. On 2 May 2020, use GnuCash to reconcile the "Reimbursable Expenses" > account > 6. Mark the splits in the "Reimbursable Expenses" that are included with > this reimbursement check as reconciled. The reconcile date on those > specific splits will be 2 May 2020. > 7. Now the "Reimbursable Expenses" account is reconciled. > 8. On 4 May 2020, deposit the reimbursement check. This is not correct, or at least not completely correct. Recall that the overall process is like A/R: A) CC -> Reimbursible B) Reibursible -> Cash/Bank So when I get the reimbursement check on May 1, I use my bank app to deposit the check, but I know that deposit wont actually hit my account until May 2 (or possibly May 4). So on May 1st I enter in a transaction for Reimbursible -> Bank (to process the check) dated May 2 (because that's when it hits the bank, which is more important to me than when it hits the reimbursible account). The NEXT step is that, also on May 1, I want to reconcile my Reimbursibles back down to $0 (because they've been reimbursed)!! In this case, I want to date the reconcile on May 2 (so it includes the deposit that will hit the next day). I am lazy and forgetful. I don't want to have to remember to re-reconcile the deposit the next day, or have to reconcile multiple times. I want to do it all simultaneously when I actually process the reimbursement. But as I said above, I care about the date I expect it to hit the bank moreso than the date I receive the check. > 9. On 8 May 2020, you see that check's cash was deposited into your bank > account. You mark the credit split in the "Bank of America Checking" > account as cleared. > 10. On 2 *June* 2020, you use your May bank account statement to reconcile > the "Bank of America Checking" account > 11. You mark the splits in "Bank of America Checking" account that match > those in the bank statement as reconciled. The reconcile date on those > specific splits will be 2 *June* 2020 > 12. Now the " Bank of America Checking" account is reconciled. Other than that I often skip #9, yes, the rest of this is correct. > In the above workflow, there is no future-reconcile handling needed. > Reconciling the expenses is separate form reconciling the bank account. > Reconciles always happen now or in the past. See my corrections. In short: 1) make expenses 2) File expense report / mark items cleared 3) Receive Check. Deposit check (dated 1 day ahead) and Reconcile Reimbursement (also dated 1-2 days ahead) 4) *at some point in the future* reconcile the bank account once I get the next bank statement -derek -- Derek Atkins 617-623-3745 de...@ihtfp.com www.ihtfp.com Computer and Internet Security Consultant _______________________________________________ gnucash-devel mailing list gnucash-devel@gnucash.org https://lists.gnucash.org/mailman/listinfo/gnucash-devel