should there be pre-work before starting?
I am doing a Fresh Start. My question is that the paper checkbook register does not match the balance that the online bank account is showing. I reconciled the uncleared payments and interests and deposits and of course I may still be overlooking something. Still a bit off - about $150. Do these two have to match before getting starting? Is the online account ( real time) the one to Put into "amount to be Budgeted"? And since many people don't use the non-digital method anyway, should I go with the online account balance?
Hi Cyan Violin !
This is a great question! :)
In short, there is no pre-work with YNAB. When you start, you'll enter your bank account's current balance. In this case, you'll want to use the online account balance because that's the actual amount of money your bank reports you having.
However, keeping a checkbook is meant to help catch any errors. If you think that difference could be on the bank's end, I definitely encourage going through to make sure there aren't any fraudulent or unknown transactions.
When balances don't match, it can take some investigation to discover why - this process is called reconciliation. After you get started in YNAB, you'll reconcile your YNAB accounts against your bank (YNAB will essentially replace the check book you're currently using).
We suggest reconciling often so that you're aware of any differences between the two. This makes it easy to stay on track and ahead of things! :)