My understanding is that the purpose of the reconciliation is to
enable one
to compare that the balances of two sets of accounts are in
agreement....
Interesting. I have slightly different purpose when I do
reconciliation: to compare the _transactions_ of the two sets of
accounts, and confirm they are in agreement.
When I reconcile a checking account with the bank statement for that
account I never expect them to agree. I expect my account will have
checks that were written but that are still outstanding (my account has
transactions not on the bank statement) and I expect the bank statement
to have at least one transaction not yet in my books (I make no attempt
to calculate the interest)
So the term "reconcile has two meanings, the part taking place within
gnucash and the more general process where the discrepancy between the
balances is explained (and found to be correct). In other words, my
account balance (in gnucash) as of the statement date + the total of all
checks written but still outstanding (not on the statement) + the
interest = the statement balance << might enter the interest transaction
instead of adding it.
But yes, also confirm that all transactions match (no bank errors, a
check cleared for an amount different than what it was written for, etc.)
Michael D Novack
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