How often do YOU reconcile?

I normally enter transactions as they happen and don't import from the bank. I will usually reconcile once at the beginning of the month when the previous months statement comes out. Occasionally if i am worried about the balance or feel i missed entering something ill reconcile again in the middle sometime using the transactions shown on bank website.

Do you all reconcile more, less, or not at all because you import from bank instead?

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  • Pretty much everyday. It takes me 30s. I like when my accounts screen is clear except for future transactions and it makes it very easy to notice if something is wrong. I also do everything manually, no automatic import.

    Reply Like 6
  • Several times per week. I don't want transactions that are over and done with cluttering up my screen.

    Reply Like 3
    • QC
    • HaplessFinanceProfessional
    • Queenofcoin
    • 1 yr ago
    • 2
    • Reported - view

    I don't import but I also reconcile as regularly as possible.  As I'm new, I'm checking my accounts and budget on a daily basis and reconcile as often.  It takes a nanosecond and I like the clean screen.

    Reply Like 2
  • How often do I reconcile? Often. :)

    I do a combination of manual entry and direct import, but I reconcile my accounts at least twice a week minimum (depending on how much spending I'm doing). I feel more comfortable knowing that my accounts are always up to date, which means my budget is too!

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  • Every Saturday morning. It's part of my Saturday morning ritual.  It requires fresh coffee, and I can do it while still in my PJs and without having combed my hair.  🙂

    Reply Like 7
  • I reconcile in the morning several times a week, depending on how late I'm running 🙂 I don't import either and use the bank websites.

    I used to reconcile once a month when I tried to track my expenses a few years back and it was a protracted nightmare every time so even if things get busy, I'm keen to keep doing it at least once a week. It only takes a few minutes when done regularly.

    Reply Like 1
  • I reconcile fairly infrequently, maybe one a month. I check in with all my bank accounts every morning, and clear transactions as they appear, with the result that my cleared, uncleared and working balances are always in sync. I found that reconciling sometimes makes it impossible to make adjustments later on, meaning I have had to delete and recreate transactions to make a change to one that had been reconciled. 

    As for uncluttering the screen, I use the date filter to view the current month only; I like seeing some past transactions for historic purposes, and I can adjust the date filter accordingly.

    Reply Like 1
  • I import and manually enter, and check daily.  When something imports I reconcile it.

    Reply Like 2
    • TryingToGetAhead Same here. To me, this is the most thorough method and helps ensure continuously accurate accounts and budget.

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  • Manual entry, all the way.  Credit cards are reconciled monthly, when I get the statement.  Deposit accounts are reconciled monthly, when I record the interest earned.  Cash is reconciled infrequently, typically after a trip when I use a lot of cash.

    If I had more transaction activity, I'd want to reconcile more often.  But I can forget to reconcile checking for a couple months and still find no errors.  Credit cards . . . lots of activity.  Definitely need to reconcile each statement.  Cash . . . if I see a screen full of uncleared transactions, it's time to count my cash and make sure it matches the account.  That could be 4 or 5 months at a time, since I normally don't have many cash transactions.

    Between formal reconciliations, I may look at an online account and note that it matches my records.  But that's not a regular, planned thing.

    Reply Like 3
  • 100% manual entry and reconcile daily to the online accounts.  It is just easier to stay on top of it.

    Reply Like 2
  • I reconcile whenever I've had too many transactions to feel good about my balance. For my most used account, that's about once a month but sometimes more often if I'm being vey spendy (e,g. I'm on vacation). For my least used account, it's sometimes a year because there are often only 12 transactions in that time. 

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  • Its very awesome to hear this was such a popular topic. It seems that reconciling is very personal and has a wide range of timing. Thank you!

    For me, i still enjoy seeing transactions. Its just pretty. Sometimes ill open my budget just to look at it! I reconcile once a month. It feels very cyclical. Almost like I am starting the month brand new!

    Reply Like 1
  • At least once a month, sometimes more often if the account sees a lot of activity. I do import from my bank but I don't rely on that all the time*. Still need to look at my bank balance to be sure that the account is reconciled.

    *ETA: we do 100% manual entry and then clear the transaction.

    Reply Like 1
  • Since I use YNAB  90% of the time with mobile devices (iPhone/iPad), I don’t reconcile very often, however I verify daily in my accounts if the balances matches YNAB balances and I clear all the transactions that needs to be cleared. So basically when I do log in on my computer, I don’t have much to do other than hit the reconcile button.

    Reply Like 3
  • Everyday I import transactions. I then go through each account that has had activity and reconcile it. I also check each account online and manually add any transactions that are showing as pending that I may have missed from the previous day.

    For the most part, reconciling takes about 2 seconds. Hit the reconcile button and yes, the amount is correct.

    It's all just part of my morning routine now and I do it most every day. I like going into the day knowing exactly where I stand financially and , with the way things are these days, that there is no activity on my accounts that is not me. I also check my credit report daily for the same reason.

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  • Manual entry and daily reconciliation. Staying on top of it daily keeps things nice and tidy.

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  • Check accounts and YNAB daily , reconcile every day if there are any transactions 

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