Cleared vs Reconciled?

Discussion in 'Microsoft Money' started by hartlenb, Jun 18, 2009.

  1. hartlenb

    hartlenb Guest

    I'm just starting to try Money 2007 Deluxe. Wondering what the difference is
    between the transaction status (C)leared and (R)econciled in the advanced
    register?

    Thanks!

    PS - is there any easy way to find this kind of information? I tried
    searching the applications help (no luick), the online User Guide has no
    search capability and didn't fins anything in this forum.
     
    hartlenb, Jun 18, 2009
    #1
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  2. hartlenb

    Dick Watson Guest

    Great timing. You might want to read up on the threads here since the 11th
    before spending a lot of energy on this.

    Cleared basically means that it is an item known to have made it to the
    bank. Reconciled means that a statement balance has been made to match a
    Money account balance which included this item.

    "hartlenb" <> wrote in message
    news:...
    > I'm just starting to try Money 2007 Deluxe. Wondering what the difference
    > is
    > between the transaction status (C)leared and (R)econciled in the advanced
    > register?
    >
    > Thanks!
    >
    > PS - is there any easy way to find this kind of information? I tried
    > searching the applications help (no luick), the online User Guide has no
    > search capability and didn't fins anything in this forum.
    >
    >
     
    Dick Watson, Jun 18, 2009
    #2
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  3. hartlenb

    Roy Smith Guest

    hartlenb wrote:
    > I'm just starting to try Money 2007 Deluxe. Wondering what the difference is
    > between the transaction status (C)leared and (R)econciled in the advanced
    > register?


    Unless you're using different terminology, the answers should be fairly
    obvious. What do you call a transaction that has been processed by your
    bank, and the money has been withdrawn from your account? And what do
    you call the process of comparing the transactions in your checkbook
    with the ones listed on your bank statements when you receive them?

    --

    Roy Smith
    Windows XP Pro
     
    Roy Smith, Jun 18, 2009
    #3
  4. hartlenb

    hartlenb Guest

    Thanks - so Cleared has limited value in today's world where one can download
    transactions from their bank.

    "Dick Watson" wrote:

    > Great timing. You might want to read up on the threads here since the 11th
    > before spending a lot of energy on this.
    >
    > Cleared basically means that it is an item known to have made it to the
    > bank. Reconciled means that a statement balance has been made to match a
    > Money account balance which included this item.
    >
    > "hartlenb" <> wrote in message
    > news:...
    > > I'm just starting to try Money 2007 Deluxe. Wondering what the difference
    > > is
    > > between the transaction status (C)leared and (R)econciled in the advanced
    > > register?
    > >
    > > Thanks!
    > >
    > > PS - is there any easy way to find this kind of information? I tried
    > > searching the applications help (no luick), the online User Guide has no
    > > search capability and didn't fins anything in this forum.
    > >
    > >

    >
     
    hartlenb, Jun 18, 2009
    #4
  5. hartlenb

    Ken Guest

    The following from Help in my Money program, version 2001.

    Learn about cleared and reconciled transactions
    ----------------------------------------------------------------------------
    ----

    With Money, you can compare your account's records against the bank's or
    broker's records in two ways:

    Read and accept downloaded transactions.

    Compare your account register transactions to a paper statement from your
    bank or broker.

    As you compare your records, mark those that have cleared the bank or broker
    in the C (cleared) column, using the following letters:

    C (cleared by hand). You mark a transaction as cleared by the bank or broker
    after comparing your account register to a printed statement and finding a
    match to the transaction. Right-click the transaction, point to Mark As, and
    then click Cleared.

    E (electronically cleared). Money marks a transaction in your account
    register that matches one on your bank's or broker's downloaded statement.

    R (reconciled/balanced). Money marks cleared transactions as reconciled when
    you balance the account register total to the total on your printed or
    downloaded statement.

    ----------------------------------------------------------------------------
    ----



    Mark a transaction as cleared, void, or reconciled
    ----------------------------------------------------------------------------
    ----

    1. Go to the account that contains the transaction you want to edit.

    2. Click the appropriate account.

    2. In the account register, right-click the transaction.

    3. Point to Mark As, and then click one of the following:

    Cleared. Use this when the funds are debited from or credited to your bank
    account.

    Reconciled. Use this when the transaction in your Money account matches one
    on your bank statement.

    Void. Use this when you stop payment on a check or otherwise stop the
    completion of a transaction without deleting it from your account.

    ----------------------------------------------------------------------------
    ----

    HTH,
    Ken

    "hartlenb" <> wrote in message
    news:...
    | I'm just starting to try Money 2007 Deluxe. Wondering what the difference
    is
    | between the transaction status (C)leared and (R)econciled in the advanced
    | register?
    |
    | Thanks!
    |
    | PS - is there any easy way to find this kind of information? I tried
    | searching the applications help (no luick), the online User Guide has no
    | search capability and didn't fins anything in this forum.
    |
    |
     
    Ken, Jun 18, 2009
    #5
  6. hartlenb

    Dick Watson Guest

    Well, depending on your settings, downloaded stuff will implicitly mark as
    cleared and can be used to distinguish those from stuff you hand-entered
    which hasn't yet been downloaded as recognized by the bank.

    It is also useful for those of us that do nto download transaction data.

    "hartlenb" wrote:

    > Thanks - so Cleared has limited value in today's world where one can download
    > transactions from their bank.
     
    Dick Watson, Jun 18, 2009
    #6
  7. hartlenb

    Ken Guest

    Re: Cleared vs Reconciled? (more info)

    Go to....
    Microsoft Money Online User Guides
    http://www.microsoft.com/money/support/support_manual.mspx

    Open... Microsoft Money 2007

    Then scroll down to..
    Chapter 5: Handling Your Accounts

    Choose... Balancing bank accounts


    Then in the "Want More Information?"

    For instructions and an informative video on how to balance accounts, click
    here to be taken to the article in the Microsoft Knowledge Base.
    http://support.microsoft.com/kb/76422

    HTH
    Ken




    "Ken" <> wrote in message
    news:%...
    | The following from Help in my Money program, version 2001.
    |
    | Learn about cleared and reconciled transactions
    | --------------------------------------------------------------------------
    --
    | ----
    |
    | With Money, you can compare your account's records against the bank's or
    | broker's records in two ways:
    |
    | Read and accept downloaded transactions.
    |
    | Compare your account register transactions to a paper statement from your
    | bank or broker.
    |
    | As you compare your records, mark those that have cleared the bank or
    broker
    | in the C (cleared) column, using the following letters:
    |
    | C (cleared by hand). You mark a transaction as cleared by the bank or
    broker
    | after comparing your account register to a printed statement and finding a
    | match to the transaction. Right-click the transaction, point to Mark As,
    and
    | then click Cleared.
    |
    | E (electronically cleared). Money marks a transaction in your account
    | register that matches one on your bank's or broker's downloaded statement.
    |
    | R (reconciled/balanced). Money marks cleared transactions as reconciled
    when
    | you balance the account register total to the total on your printed or
    | downloaded statement.
    |
    | --------------------------------------------------------------------------
    --
    | ----
    |
    |
    |
    | Mark a transaction as cleared, void, or reconciled
    | --------------------------------------------------------------------------
    --
    | ----
    |
    | 1. Go to the account that contains the transaction you want to edit.
    |
    | 2. Click the appropriate account.
    |
    | 2. In the account register, right-click the transaction.
    |
    | 3. Point to Mark As, and then click one of the following:
    |
    | Cleared. Use this when the funds are debited from or credited to your bank
    | account.
    |
    | Reconciled. Use this when the transaction in your Money account matches
    one
    | on your bank statement.
    |
    | Void. Use this when you stop payment on a check or otherwise stop the
    | completion of a transaction without deleting it from your account.
    |
    | --------------------------------------------------------------------------
    --
    | ----
    |
    | HTH,
    | Ken
    |
    | "hartlenb" <> wrote in message
    | news:...
    | | I'm just starting to try Money 2007 Deluxe. Wondering what the
    difference
    | is
    | | between the transaction status (C)leared and (R)econciled in the
    advanced
    | | register?
    | |
    | | Thanks!
    | |
    | | PS - is there any easy way to find this kind of information? I tried
    | | searching the applications help (no luick), the online User Guide has no
    | | search capability and didn't fins anything in this forum.
    | |
    | |
    |
     
    Ken, Jun 18, 2009
    #7
  8. hartlenb

    JohnA Guest

    My understanding:

    Downloaded transactions get marked "E"
    Partially reconciled - i.e. leave reconcilliation before finishing marks
    some transactions as "C" - typically all E->C automatically if within the
    reconcilliation range and manually checking off any unchecked transaction
    marks it as "C"
    Finishing reconcilliation marks the "C" transactions as "R"
    Voiding a transactions anytime before reconcilliation marks it as "C"

    Anyone see anything different?

    -- John

    "Dick Watson" <> wrote in
    message news:...
    > Well, depending on your settings, downloaded stuff will implicitly mark as
    > cleared and can be used to distinguish those from stuff you hand-entered
    > which hasn't yet been downloaded as recognized by the bank.
    >
    > It is also useful for those of us that do nto download transaction data.
    >
    > "hartlenb" wrote:
    >
    >> Thanks - so Cleared has limited value in today's world where one can
    >> download
    >> transactions from their bank.

    >
     
    JohnA, Jun 19, 2009
    #8
  9. hartlenb

    Scott Tyler Guest

    JohnA wrote:
    > My understanding:
    >
    > Downloaded transactions get marked "E"
    > Partially reconciled - i.e. leave reconcilliation before finishing marks
    > some transactions as "C" - typically all E->C automatically if within the
    > reconcilliation range and manually checking off any unchecked transaction
    > marks it as "C"
    > Finishing reconcilliation marks the "C" transactions as "R"
    > Voiding a transactions anytime before reconcilliation marks it as "C"
    >
    > Anyone see anything different?
    >
    > -- John
    >


    I've always gotten an "R" when I void an item. I've used Money 2002
    Deluxe, 2004 Deluxe/Premium, and Plus Deluxe w/ Advanced register.

    --
    Scott Tyler
    agent_scotty-at-hotmail-dot-com
     
    Scott Tyler, Jun 19, 2009
    #9
  10. hartlenb

    Dick Watson Guest

    Agreed except in my experience voids mark reconciled immediately.

    I was forgetting the whole E thing. I don't download transaction data.

    "JohnA" <> wrote in message
    news:...
    > My understanding:
    >
    > Downloaded transactions get marked "E"
    > Partially reconciled - i.e. leave reconcilliation before finishing marks
    > some transactions as "C" - typically all E->C automatically if within the
    > reconcilliation range and manually checking off any unchecked transaction
    > marks it as "C"
    > Finishing reconcilliation marks the "C" transactions as "R"
    > Voiding a transactions anytime before reconcilliation marks it as "C"
    >
    > Anyone see anything different?
     
    Dick Watson, Jun 19, 2009
    #10
  11. hartlenb

    JohnA Guest

    Yes, voiding marks as "R" - sorry for the confusion...

    "JohnA" <> wrote in message
    news:...
    > My understanding:
    >
    > Downloaded transactions get marked "E"
    > Partially reconciled - i.e. leave reconcilliation before finishing marks
    > some transactions as "C" - typically all E->C automatically if within the
    > reconcilliation range and manually checking off any unchecked transaction
    > marks it as "C"
    > Finishing reconcilliation marks the "C" transactions as "R"
    > Voiding a transactions anytime before reconcilliation marks it as "C"
    >
    > Anyone see anything different?
    >
    > -- John
    >
    > "Dick Watson" <> wrote in
    > message news:...
    >> Well, depending on your settings, downloaded stuff will implicitly mark
    >> as
    >> cleared and can be used to distinguish those from stuff you hand-entered
    >> which hasn't yet been downloaded as recognized by the bank.
    >>
    >> It is also useful for those of us that do nto download transaction data.
    >>
    >> "hartlenb" wrote:
    >>
    >>> Thanks - so Cleared has limited value in today's world where one can
    >>> download
    >>> transactions from their bank.

    >>

    >
    >
    >
     
    JohnA, Jun 19, 2009
    #11
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