Bank Genie "Statement Number"

[Bill]

George,

I accept that with most bank accounts there is a regular statement issued and the program appears to work around these dates and statement numbers.

What about accounts such as savings accounts that do not have statements or statement numbers, one may only receive notification once a year as to the balance and intrest credited for tax purposes.

What in these cases do you enter in the box on set up of such an account.

Regards
Bill.

[ideasguy]

I would suggest you enter the number 1 in Bank Genie, and write Statement No 1 on the statement which you choose to start off logging into Bank Genie. (or review your statements and assign numbers to them all)
Proceed from there.

In this case, the more important factor is the Statement date, and you can key that up exactly to match your statements.
It doesnt really matter if they are annual statements, or monthly, of course.

[barryl]

This also applies to statements received (or available online) from credit card companies.

In addition a problem I have discussed with George is Banks that cycle statement numbers from 1-99 and then return to 1 (Lloyds TSB do this for sure and there may be others). The obvious remedy is to add 100 to the second set, 200 to the third and so on. To cope with the non existent "0th" statement (100,200 etc) you can reconcile an empty statement. Not very nice but it works.

[ideasguy]

Yes, that was a rather "fortuitous" feature in Bank Genie, Barry. When you mentioned it at first I thought I would have to do something special to cope with that problem, but your suggestion to reconcile an empty statement ( a statement with no transactions) worked a treat.

One other little thing.
I would recommend that the empty Statement date be the same as the previous statement.
e.g. Statement No 100 should have the same Statement date as 99

The statement date is important when you use the "Calculate to a selected Date" option in the Net Worth program.
To ensure Net Worth calculation accuracy it is very important that, for any individual statement, the Statement date should be equal or later than the transaction dates in the statement.