5. How To Reconcile The Checking AccountCopy

GnuCash reconciliation is the process of verifying that your recorded transactions match the records of your financial institution. This ensures accuracy in your financial tracking and helps identify any discrepancies.

Cheat Notes:

1. Step 1: Open the reconciliation window 
2. Open your checking account register in GnuCash.
3. Go to Actions → Reconcile… from the menu bar. 
4. Step 2: Enter statement information 
5. In the “Reconciling Information” dialog box, enter the Statement Date (the ending date of your statement). The “Starting Balance” is fixed from the previous reconciliation and should match your statement’s starting balance.
6. Enter the Ending Balance from your bank statement.
7. Select OK to proceed to the “Reconcile” window. Step 3: Match transactions
8. Compare each transaction on your bank statement to the list of un-reconciled transactions in the “Reconcile” window.
9. As you mark transactions, observe the “Reconciled Balance” at the bottom. It will change with each checked transaction. 
10. Step 4: Finish reconciliationContinue matching and adding transactions until the difference between your “Reconciled Balance” and the “Ending Balance” is $0.00.
11. Select the Reconcile or Finish button to save your changes and close the window.