Reconciling and Linked Accounts

I'm just getting started with YNAB and linked my accounts because I figured that would be easier as I learned the program. Do I still need to reconcile if my bank account is linked? 

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  • Yep.

    Here's an explanation of reconciling in YNAB.

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  • I would recommend still reconciling.  One advantage you have is that unexpected or fraudulent transactions will immediately jump out at you. 

    Also consider simply directly entering all your transactions.  For me, it's down to five minutes a day between manual entry and daily reconciliation.  YMMV.

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  • Hi Lavender Door !

    Even though you have direct import set up, you should definitely reconcile often. Direct Import isn't without it's imperfections (that's for sure!), so it is possible for transactions to get imported incorrectly or for other discrepancies to happen that can throw off your balance.

    Here are some causes I’ve seen for an incorrect balance:

    - Accidentally deleted transactions

    - Several transactions for the same amount that occur right around the same date, could include duplicates and be tough to distinguish. For example, if two transactions are correct, and another transaction is a duplicate that was accidentally cleared, the repeat amounts could be easily confused and throw off your balance.

    - Inflows can incorrectly import as outflows and vice-versa. Transactions can also incorrectly get skipped in the import process.


    You use your budget to make spending decisions, so it’s vital to make sure your account register in YNAB matches your bank's records! And the more often you reconcile, the quicker it will be to find any discrepancies!

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