Checking account balance includes pending transactions

Hi

So my checking account standing balance always includes the pending transactions in the total. Is there a recommended way for reconciling when that is the case? Do I always have to just do the math myself?

 

Doing math is okay, just figured there's got to be an easier way?

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  • There should be a spot somewhere in your online banking where it gives you the cleared total.  That is the number you need to use when reconciling.

    Like 3
      • Cj Holm
      • Content Manage
      • cjxx26
      • 2 wk ago
      • Reported - view

      satcook I'm usually using the app to reconcile but maybe the web login has that cleared total like you described. Will have to look into that.

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      • jenmas
      • jenmas
      • 2 wk ago
      • 2
      • Reported - view

      Cj Holm You can’t reconcile, in the YNAB sense of the word, in the app. That functionality is only available in the web based platform.

      Like 2
      • Vibrant
      • No more counting dollars, we'll be counting stars
      • vibrant
      • 2 wk ago
      • Reported - view

      jenmasjenmas I think he means he means he's using his bank app to check his account balance for reconciling purposes.

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      • Cj Holm
      • Content Manage
      • cjxx26
      • 2 wk ago
      • Reported - view

      Vibrant Correct, I'm referring to my banks app, not the YNAB app. I've been using the website for reconciling on YNAB and my banks mobile app to see my account balances.

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  • Hey Cj Holm ! How'd it go? If your bank offers a running balance, that can be an option too. If you're comfortable sharing the name of the bank, I'd be happy to search around to see if we can find more details!

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      • Cj Holm
      • Content Manage
      • cjxx26
      • 2 wk ago
      • Reported - view

      Nicole I haven't quite found the best solution yet. I use Great Western Bank.

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    • Cj Holm Hi there! I'm looking at a demo of Great Western Bank's online banking. I can't be sure this is current, since this is just a demo on their website, not an actual account, but here's what I'm seeing:

      In this example, the Current balance is the one you'd use for reconciling, and you can ignore the Available balance. 

      Please try the website and let me know if it looks different (feel free to include a screenshot with numbers blocked out, if you like!).

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      • Cj Holm
      • Content Manage
      • cjxx26
      • 2 wk ago
      • 1
      • Reported - view

      Matthew Hey Matthew! Thanks for taking a look at that for me! I just rechecked my accounts and although there is pending transactions in the accounts, the two totals (both current and available) are identical. I honestly don't think I've ever seen them be different, but of course I haven't been paying close attention to it until now so that could be incorrect. I think for the time being I will watch those totals and see if they ever reflect different amounts.

       

      I did notice today, at recommendation for another posting, to look at the individual lines in the account and there may be a running total listed with each transaction and I found my banks app may have this. I'm thinking this is going to be my best bet for reconciling with YNAB.

      Like 1
      • Vibrant
      • No more counting dollars, we'll be counting stars
      • vibrant
      • 2 wk ago
      • Reported - view

      Cj Holm I was just going to say, the screenshot Matthew posted looks identical to my CU's online interface, so if the app is also the same, the running balance is listed below the transaction amount on the transaction details screen.

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  • The bank balance that includes pending would then match up with YNAB's Working Balance for that account.

    In YNAB: Cleared Balance + Uncleared Balance (or pending transactions) = Working Balance

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    • amp97 said:
      The bank balance that includes pending would then match up with YNAB's Working Balance for that account

      Only if the pending transactions in ynab also match the pending at the bank. For example, if relying on import for entry (not recommended, but clearly popular), they wouldn't match.

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      • Cj Holm
      • Content Manage
      • cjxx26
      • 2 wk ago
      • Reported - view

      dakinemaui Exactly. For example, right now I have a check added in YNAB (I know, who uses those anymore) that the recipient hasn't cashed yet. So I obviously want it in the budget, but it doesn't show up anywhere in my bank transactions. I also have a pending transaction after getting gas the other night that is still pending as 1$ which is obviously not what I spent but is taken out of my current bank balance, and the accurate amount budgeted in YNAB. With these things the both the cleared and uncleared balances just don't match up.

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