Checking balance

[Carolyn]

Is there a way to mark when the balance corresponds to the bank balance so that later if they do not match, one knows how far back to go, as when reconciled the layout returns to normal?

[Campbell]

Hi Carolyn.

When reconciling, I find it useful to use the Correct Balance feature. This allows you to enter into More Money the final balance from your statement. This will effectively "pin" the balance at the date you specify, and will show you the amount your balance sheet is off by. You can then add/remove/modify any transactions above this line-in-the-sand transaction until they match. When the balances tally, the Correction transaction will automatically disappear.

When you are happy with the transactions in your account, you can mark them as "Reconciled". To do this, select all the statements you wish to mark, right-click, and select Set Status > Reconciled. If you always make a point of marking all transactions you are happy with as reconciled, you can easily distinguish these from any new or scheduled transactions.

Does this help?

[Carolyn]

Thank you. Sorted!

[Campbell]

Further to this, the new Reconcile points I think gives you more what you were looking for. This allows you to select one specific point in your transaction register as "everything is correct up until this point". It draws a line under this, and makes it visibly clear that everything above the line has been checked. You can manually maintain this position, and if you modify any transaction above it, it will automatically reset the reconcile point back to that transaction.

To use this, simply right-click on a transaction and select Set Reconciled point.

[Carolyn]

Many thanks for the new feature for Reconciliation. The highlighted line under the entry makes it so quick and easy to see. I find this very helpful.

[Amazone]

Carolyn,
I do not know if you download the movements from your bank. I did not think that is possible at this moment.
If not you are entering your transactions manually as I am already for years.
It has often happened that I made an error in a transaction date.
So a balance that was checked may later be wrong again.

[Campbell]

The reconciled point feature should take this into account. If any changes are made to an earlier transaction, the point is set back to that transaction, making it easy to find where it changed.

[Amazone]

The reconciled point feature should take this into account. If any changes are made to an earlier transaction, the point is set back to that transaction, making it easy to find where it changed.

Yes that would help.
Set back???? A simple warning "You are making changes before reconciled balance" or something like that?

[Campbell]

It should be quite obvious when this happens as the reconcile point displays as a clear line and the transactions are coloured differently, but it might be helpful to display an explicit message too.