Page 1 of 1

Reconciling - Record actual bills or direct debits?

Posted: Mon May 11, 2020 8:49 am
by c_poulterh

I like to record actual gas/elect costs as a service cost when I get the bill but when I am reconciling from the bank statement the actual direct debit comes up - which doesn't match a bill. And if I did match it to a bill then surely both the dd and the actual bill costs would be recorded so we would have a duplication of expenditure.

How do people manage this?


Re: Reconciling - Record actual bills or direct debits?

Posted: Thu Jun 11, 2020 10:08 am
by roy
Hello Cheryl

Thank you for your post

You can create the monthly bills as you have been doing and then reconcile the actual DD payments to them. For example, if one month you used £120 worth of gas and electric, but the DD was £100, record the expense for £120 without a payment. When you import your bank statement, click Find a Match Manually, find the expense and place your mouse over it. Click the Split button that comes up and assign the £100 to the expense. There will now be £20 left on the expense next time you come to reconcile a payment

Hope this helps