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<?xml version="1.0" encoding="UTF-8"?>
<chapter id="details.reconcile">
<chapterinfo>
<authorgroup>
<author> &Michael.T.Edwardes; &Michael.T.Edwardes.mail; </author>
</authorgroup>
<date>2010-07-21</date>
<releaseinfo>4.5</releaseinfo>
</chapterinfo>
<title>Reconciliation</title>
<sect1 id="details.reconcile.whatis">
<title>What is reconciliation?</title>
<para>
Reconciliation is the process of matching the transactions you have entered
into &kmymoney; with the transactions listed for that account by the
institution. This is most commonly done with the list of transactions in a
statement, be it a bank statement, credit card statement, loan statement, or
any other statement. It can also be done against an on-line listing of the
account, although this is less common. If any discrepancies are found, then
either you or the person who created the statement have made a mistake.
</para>
<para>
To reconcile an account, choose your account from the drop down box and click
on the <guiicon><inlinemediaobject> <imageobject><imagedata
fileref="reconcile.png"/></imageobject>
</inlinemediaobject>Reconcile</guiicon> icon, select
<menuchoice><guimenu>Account</guimenu>
<guimenuitem>Reconcile...</guimenuitem></menuchoice> or use the key
combination <keycombo>&Ctrl;&Shift;<keycap>R</keycap></keycombo>.
</para>
</sect1>
<sect1 id="details.reconcile.wizard">
<title>The reconciliation wizard</title>
<para>
This will open the reconciliation wizard. The first page of the wizard
briefly describes the process you will follow. Click
on <guibutton>Next</guibutton> to actually start the wizard.
</para>
<para>
<screenshot>
<screeninfo>Reconciliation wizard</screeninfo>
<mediaobject>
<imageobject>
<imagedata fileref="reconcile1.png" format="PNG" />
</imageobject>
<textobject>
<phrase>Reconciliation wizard</phrase>
</textobject>
</mediaobject>
</screenshot>
</para>
<sect2 id="details.reconcile.wizard.statement">
<title>Statement details</title>
<para>
The statement date, starting balance, and ending balance can be found in your
statement. Make sure that the figures match and click on
the <guibutton>Next</guibutton> button. If the figures do not match then
enter the figures as listed on your statement and click on
the <guibutton>Next</guibutton> button.
</para>
<para>
<screenshot>
<screeninfo>Reconciliation wizard</screeninfo>
<mediaobject>
<imageobject>
<imagedata fileref="reconcile2.png" format="PNG" />
</imageobject>
<textobject>
<phrase>Reconciliation wizard</phrase>
</textobject>
</mediaobject>
</screenshot>
</para>
</sect2>
<sect2 id="details.reconcile.wizard.interest">
<title>Interest</title>
<para>
If the statement reconciliation is on a bank account or any account with
interest and/or charges fees, then enter these values in the appropriate
fields. A category can be assigned for each of these amounts.
</para>
<note>
<para>
The interest field is for interest you gained. If you have to pay interest,
⪚, for a credit card account, this has to be entered as a charge.
</para>
</note>
<para>
<screenshot>
<screeninfo>Reconciliation wizard</screeninfo>
<mediaobject>
<imageobject>
<imagedata fileref="reconcile3.png" format="PNG" />
</imageobject>
<textobject>
<phrase>Reconciliation wizard</phrase>
</textobject>
</mediaobject>
</screenshot>
</para>
<para>
Click on <guibutton>Continue</guibutton> to start matching your statement to
what you have entered. Note that this completes the Reconciliation Wizard,
but not the process of reconciliation. It also changes the ledger display by
only showing transactions that have not already been marked as reconciled. As
described below, you still need to clear transactions and then tell &kmymoney;
that the account is reconciled.
</para>
</sect2>
<sect2 id="details.reconcile.wizard.clearing">
<title>Clearing transactions</title>
<para>
During the reconciliation, any transaction can be edited to make it match the
statement, and new transactions can be created as usual. To mark a
transaction as cleared, click on the <guilabel>C</guilabel> column in the list
view. A transaction is cleared when it matches the transaction on your
statement.
</para>
<para>
The command frame (just below the transaction list area) displays the
statement amount on the left, the cleared amount in the center, and the
difference on the right. As you mark transactions cleared, these values
update to show the change.
</para>
<para>
Note, however, that as reconciliation is the process of matching the data in
your account with that on a statement, changes to any transaction with dates
after the statement date you entered in the wizard will be saved, but will not
have any effect on the cleared amount shown in the command frame.
</para>
<screenshot>
<screeninfo>Reconciliation wizard</screeninfo>
<mediaobject>
<imageobject>
<imagedata fileref="reconcile4.png" format="PNG" />
</imageobject>
<textobject>
<phrase>Reconciliation wizard</phrase>
</textobject>
</mediaobject>
</screenshot>
</sect2>
<sect2 id="details.reconcile.complete">
<title>Completing Reconciliation</title>
<sect3 id="details.reconcile.finish">
<title>Finishing Reconciliation</title>
<para>
When the difference between the statement and the cleared balance is zero then
the account is reconciled and you can click the <guibutton>Finish</guibutton>
button. When you do this, &kmymoney; takes all the transactions which have
been marked as cleared and marks them as reconciled, and the value in the
<guilabel>C</guilabel> column changes from <quote>C</quote> to
<quote>R</quote> to reflect the change. In addition, it saves the changes and
records that the account has been reconciled. (You still need to save the file
to permanently save all the changes.)
</para>
</sect3>
<sect3 id="details.reconcile.postpone">
<title>Postponing Reconciliation</title>
<para>
If you're having trouble completing the reconciliation, or you need to gather
some additional information before you can complete the process, you can
postpone the process to a later time by clicking on the
<guibutton>Postpone</guibutton> button. When you do this, &kmymoney; remembers
the values you entered when you started the wizard, it does not mark cleared
transactions as reconciled, and it returns the ledger to its normal view. If
you exit &kmymoney; before clicking either <guibutton>Finish</guibutton> or
<guibutton>Postpone</guibutton>, it has the same effect as clicking
<guibutton>Postpone</guibutton>. Any edits you have made, such as marking
transactions cleared or entering new transactions, are not touched, and you
can still save them before you exit &kmymoney;. However, you will have to run
the reconciliation wizard again in order to reconcile the account.
</para>
<para>
When you run the reconciliation wizard on this account the next time,
&kmymoney; remembers the values you entered when you previously ran the
wizard, and you will be able to change them, if necessary. In this case, the
initial screen of the wizard is different, to remind you of this.
</para>
<screenshot>
<screeninfo>Reconciliation wizard</screeninfo>
<mediaobject>
<imageobject>
<imagedata fileref="reconcile-redo.png" format="PNG" />
</imageobject>
<textobject>
<phrase>Reconciliation wizard</phrase>
</textobject>
</mediaobject>
</screenshot>
</sect3>
</sect2>
</sect1>
</chapter>
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