Cleared balance/current Balance GB vs Bank balances

1

I’m still trying to understand how the program works, and what the numbers are all saying…I’m comparing my Bank balance to GB and the ‘Cleared Balance’ Matches the Available balance in my checking account so that’s all good :slight_smile: …However, GB says the 'Current Balance is 275.08 but my bank says the current balance is 285.91.
How is it possible that one matches and the other one doesn’t?
I have looked through both lists of transactions and don’t see any differences, what am I missing?
Thanks

3

Usually I’d put a discrepancy like that to input error (that’s what happens with me each month before I Reconcile), but since it sounds like you said you checked the recent transactions, it may have been a longer-ago discrepancy that’s just made its way to the present.

If I’m understanding what you’re saying correctly, would it work for you to just manually adjust your current balance to the real life current balance? You can do this by going the Edit Accounts page and manually adjusting the number in the Current Balance field.

4

There are a couple of reasons why this happens to me.

  1. I have entered transactions in GB which are not yet showing as Pending at the bank.
  2. I have failed to enter transactions in GB which are already Pending at the bank.
  3. I have entered a wrong amount in GB
  4. GB has fuzzy-matched transactions that should not be matched

All that said, there have been a couple of times over the past several years using GB where I simply could not locate the discrepancy and resorted to editing the account balance to match the bank.

But the thing that is confusing me about your question is how you have compared GB Cleared balance to Bank Available balance. This to me seems like an accident of timing and really doesn’t mean anything.

In the bank: Current - Pending = Available

In GB: Cleared - Uncleared = Current

Let’s say that your bank and GB were in perfect sync, everything Cleared, and no pending transactions. You have $100 in the bank:

Bank: $100 Current - $0 Pending = $100 Available
GB: $100 Cleared - $0 Uncleared = $100 Current

Now you use your debit card to purchase something for $10:

Bank: $100 Current - $10 Pending = $90 Available
GB: $100 Cleared - $10 Uncleared = $90 Current

Therefore, I don’t think it is proper to compare GB Cleared and Bank Available.