Reconciliation to date on statement - not possible?

I used ynab4 and recently reupgraded to the app.

in ynab4 reconciliation, i used to be able to reconcile my account to a certain date. For example, my bank statement shows transactions thru the 20th of the month. I get their statement mailed a few days later. On the 24th, I reconcile account and I could set the reconciliation balance date back to the 20th. Same for my credit card statement.

In the app, unless I missed it, I see no way to backdate my reconciliation, which is a regression in functionality for those of us who still want to balance against a printed statement or pdf statement.

Have I missed something or can you reconcile accounts only to the current date? thanks.

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  • I have no idea how to reconcile properly without this functionality. Can someone explain to me what to do if I'm forced to reconcile today's date but I still have pending transactions waiting on my account? I put $8 in ynab but the pending transaction for gasoline is often just $1 because its a credit check. This throws off my total balance and I have no way to fix this as far as I know. I'm still on a trial and wading through the mess to get it so my wife and I could share a budget was time consuming enough. This is going to be a deal breaker if there's not some way to handle this that I am not thinking of. It's hard enough to get my wife to use the software, much less with these kinds of complications.

    Like
      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 3 mths ago
      • 2
      • Reported - view

      Tan Screwdiver Reconcile to your cleared balance, not your working balance.

      Like 2
      • dakinemaui
      • dakinemaui
      • 3 mths ago
      • 4
      • Reported - view

      Tan Screwdiver Pending transactions you've manually entered into YNAB should not be cleared. They should also be excluded from the balance you provide at the start of reconciliation (obtained from the website). Thus, there is no conflict.

      This should not be a deal breaker.

      Like 4
    • dakinemaui Superbone My bank doesn't give me my cleared balance. They give me what they expect to be my cleared balance (for good reason, I imagine, since it shows me what I can likely spend). Are you saying I should take that balance, subtract the 20 pending transactions by hand, and then use the number I come up with to reconcile against? That seems really silly. Can I just reconcile against my last statement instead?

      Like
      • dakinemaui
      • dakinemaui
      • 3 mths ago
      • 2
      • Reported - view

      Tan Screwdiver Certainly you can reconcile to your statement. You can also talk to your bank to perhaps explain a less tedious approach to find the actual cleared balance.

      Perhaps one possibility is if your bank's website shows a running balance that excludes pending transactions.

      Like 2
      • dakinemaui
      • dakinemaui
      • 3 mths ago
      • Reported - view

      Another possibility might be that the website or mobile app may give more information, including the actual cleared balance.

      Additionally, you won't always have 20 pending transactions. Reconcile when the number is more manageable.

      Ultimately, you could stop using this CC. At the very least you should lodge a complaint with their customer service. You cannot be the only user who needs the cleared balance.

      Best of luck!

      Like
      • dakinemaui
      • dakinemaui
      • 3 mths ago
      • Reported - view
      dakinemaui said:
      Certainly you can reconcile to your statement

      Forgot to mention that process is described several times earlier in the thread.

      Like
    • dakinemaui So I think I understand where the confusion is happening for new people like me. When I go to reconcile my account it first asks if $123 is my current balance and I say no. Then it asks: "Enter your *current* balance". Instead of saying "current balance" this needs to say "current cleared balance" or something to that effect. That was my main point of confusion.

      Like 2
      • dakinemaui
      • dakinemaui
      • 3 mths ago
      • 2
      • Reported - view

      Tan Screwdiver Makes sense. That input was designed several years ago when the main balance the bank would show was, in fact, the cleared balance. Times change, it seems, and more than a few banks today seem to think showing you the "working" balance (including pending transactions) is the way to go.

      Like 2
      • Momofboysx3
      • I'm going to master budgeting, even if it kills me!
      • Steel_Blue_Mainframe.11
      • 3 mths ago
      • Reported - view

      Tan Screwdiver Just curious if you are looking at your bank balance only on a mobile app? My mobile app doesn't not give a running balance, but when I log into the webpage on a computer, I can get the running balance. Just a thought.

      Like
      • WordTenor
      • I'm the oldest and the wittiest.
      • WordTenor
      • 3 mths ago
      • 1
      • Reported - view

      dakinemaui This was actually mandated by the Consumer Finance Protection Bureau circa 2010, 2011., along with a bunch of other disclosures about overdraft operation. 

      Like 1
  • I would like a reconciliation date feature as well. My accounts are linked to my bank and are imported automatically. However, when I reconcile over the weekend some transactions don't get imported (since they're in pending status on my bank account). The following week, these records that were in pending status get imported (after I've reconciled my account), but these newly imported records are backdated. So I have to reconcile it again - and YNAB adds another reconciliation record again!!

     

    I like the date feature since I reconcile it with my statement ending balance and date. All transactions should have cleared and imported to YNAB by the time it's the end of the statement date.

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  • I’m going to submit a feature request for this as well. I don’t link my accounts because I feel it disconnected that way. Also, it would be nice to know at a specific date that your accounts are reconciled.

    Like 1
  • I would really like to see this feature return to the app. Sure it works great when the bank sync is reliable (US only) but for many non-US YNAB customers, reliable bank sync is a long way off. Manual imports can often lead to missed or duplicated transactions which throw off the reconciliation process.

     

    Whenever I couldn't reconcile to 'today's date' I used to go through historical statements in bitesize chunks, say 1 week at a time until I found the rogue / missing figure - added it and watch everything subsequent to that fall into place nicely.

     

    I'm not stupid. Yet without this figure I have not been able to reconcile my accounts since July - I've never had enough time to go through all of the data.  This is seriously making me contemplate abandoning YNAB.

    Like
  • AW said:
    Manual imports can often lead to missed or duplicated transactions

    Make sure the download window is a few days before the most recent locked transaction. This will ensure there are no misses. There should not be any duplicates because of matching or prior import signatures.

    If you are seeing duplicates, then you should make a bug report.

    Like 1
  • Obligatory "Yes I filed a feature request"

    Wow it's kind of amazing this hasn't been implemented yet. I used the old YNAB and not being able to do a proper reconciliation in the new version is a head scratcher. Do we not understand what reconciliation means?

    If I've reconciled a transaction, I've confirmed my records match the bank records, and I don't have to worry about it anymore. Even YNAB by default hides reconciled transactions. So when I get my statement from the bank, I reconcile the transactions in the statement to my records. If everything matches, I can file the statement away and never worry about it again. If there is ever a discrepancy between my records and the bank's, I know that discrepancy came in since the last statement. This is all pretty basic stuff, and worked correctly in the old version - and it was very easy: enter in the statement date and the amount, and most of the time YNAB would correctly reconcile the transaction list to the info, and hide the reconciled transactions (who needs to actively track them anymore?).

    With automatic transaction imports, YNAB is assuming the transaction downloaded from the bank is the information to reconcile, but I don't think anyone who has used online banking for long would consider that to be the case. If you have a discrepancy with your bank, they're going to go to your statements, not your online banking portal.

    Please fix this, YNAB. I have 27 days left on my trial.

    Like
      • Ceeses
      • Ceeses
      • 1 mth ago
      • Reported - view

      Sea Green Octopus Interesting point of view. For me, reconciling only once a month (at best, most of my accounts only give me quarterly statements) would mean more work for me. It is a lot easier to find a discrepancy within a week worth of transactions (or less) than within a month worth of transactions.
      I also agree with dakinemaui , banks don't look at statements anymore but at the ongoing record of transactions, even the pending ones if I have an issue with a transaction.

      In short, I prefer to reconcile as I go. To give an example: one day I was checking transactions in YNAB with the bank record. And there was a discrepancy between the cleared balances. I searched. I uncleared all unreconciled transactions and there was still a discrepancy! This told me the issue was at my bank! And sure enough, I connected a few days after and the discrepancy was gone. This was much easier to do with few unreconciled transactions than with a month worth.

      Like
  • Sea Green Octopus said:
    for long would consider that to be the case. If you have a discrepancy with your bank, they're going to go to your statements, not your online banking portal

    Not in my experience. They would rather know if an issue as soon as possible -- potential fraud -- and waiting possibly another 4 weeks for a statement increases their risk.

    Like
  • Sea Green Octopus said:
    Please fix this, YNAB. I have 27 days left on my trial.

    Don't hold your breath. There are issues that have existed since launch over 4 years ago.

    Still, you won't find a better tool, IMHO. The tedium / workarounds are still better than using any available alternative.

    Like 1
  • Let me know when you allow reconciliation to a statement date.  Until then, I gues I'll be looking for other.  I'm definately not paying $85 bucks a year for software that misses such a basic accounting practice.

    Like 2
  • Yay. Another proponent.
    YNAB, can you figure out a way to make this an option?

    Like
  • I just started a YNAB trial. Thinking about moving up from YNAB 4. I am amazed that after all this time, the new version of YNAB doesn't have this most basic feature. I receive monthly bank statements and I expect to be able to reconcile to the monthly statement.

    Its just stunning that such a simple functionality is not available, and I can see that it has been discussed for a long time. This web-based version of YNAB has been up and running for years now. It's not like it would be difficult to implement, or that people aren't wanting this feature.

    Like
    • Slate Blue Crab You're right, Slate Blue.  It is stunning.  We had to move up from YNAB 4 because there's no YNAB 4 compatible app for my wife's new iPhone.  If you don't have to switch, I definately would not!  I'm currently trying Quicken too.  It's a lot cheaper and more powerful, but sadly, it's mobile app isn't nearly as slick as YNAB's.  Perhaps if YNAB would quit with the constant barrage of emails, and actually LISTEN to what they're customers want, I wouldn't have to cancel their service when my trial with them runs out.  Good luck to you and OregonRider.

      Like
      • dakinemaui
      • dakinemaui
      • 4 days ago
      • 2
      • Reported - view

      Slate Blue Crab If you clear manually (i.e., don't import), you effectively reconcile to whatever date you like, including that of the statement. (It's implicit in the transactions you've cleared.)

      Therefore, if you import (direct or file-based), just unclear transactions after whatever date in which you're interested.

      TBH, if you don't trust anything other than the official statement, you should unclear everything that imported and you're in the "clear manual" scenario with a couple clicks.

      Like 2
    • dakinemaui Thanks for the helpful pointers. I'm a long time YNAB user so my usual system is to import and check transactions frequently so that I'm on top of things. I do get how to use the workaround you suggest (that's the only way to reconcile to a statement now), and thanks for that - but it's frustrating that I need to do a workaround for something as simple as this.

       

      Seems like YNAB have priorities that are different from customers, because this is the second issue I've had like this in my first 7 days of the trial - I mean issues where there's a lot of users requesting a feature that they just won't deliver.

       

      Really appreciate your comment though.

      Like 1
    • Slate Blue Crab May I ask you to tell me about your typical reconciliation workflow? I'd like to understand what reconciling to the statement balance offers that reconciling to the current balance doesn't.

      Like
  • Reconciling to a statement balance is so old-fashioned. Give me a good reason for needing to do that. Just reconcile to today.

    Like 1
      • JBCampo
      • jbcampo
      • 4 days ago
      • Reported - view

      Superbone If you reconcile your check book when you get statements, being able to reconcile to a specific date is critical. But I think many people now a days never look at their bank statements. My kids don't.

      Like
      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 4 days ago
      • 3
      • Reported - view

      JBCampo I understand that. But why not reconcile to the very latest as found on your bank website? I'm not a kid any more (age-wise 😉) and I don't look at my bank statements either. First of all, I don't get them in the mail. That would be a waste. I get them electronically. Secondly, I have no need to look at the statements as I'm never that far behind in my reconciliation. I'm always looking at the most recent transactions.

      Like 3
      • WordTenor
      • I'm the oldest and the wittiest.
      • WordTenor
      • 3 days ago
      • 2
      • Reported - view

      Superbone I agree. Also not a kid but not as ahem wise as you! :) 

      The reason one reconciled to a statement was because that used to be the only time you found out what your bank had cleared. Now you can find that out every day. It’s outmoded. 

      Howevwr, as dakinemaui  points out, statement reconciliation, being a paper-based function, goes hand in hand with not direct importing. And if you’re not importing, reconciling to the statement is a piece of cake...get the statement, mark cleared only those transactions which are cleared, and boom! Reconciled to the statement. It’s dreadfully easy to do; it doesn’t need a separate workflow. 

      Like 2
      • monkeyhanger
      • No animals were harmed
      • monkeyhanger.1
      • 3 days ago
      • Reported - view

      WordTenor I don't import as I'm outside the US. I still reconcile to my online bank statement more or less daily partly because I'm lazy and don't enter transactions at the POS unless it's cash or I'm buying lots from a single category in a day (Christmas shopping mainly). I know, shoot me but I have one of those memories for numbers that means I could probably tell you what I have in each category without looking.  The other reason, is that I trained as an accountant in the 90s so spent many hours doing monthly bank reconciliations. Reconciling every time I check my accounts is just simply a lot less work. As for nolesrule I don't receive paper statements for all my accounts anyway. I only use the online statement if there's been a problem.

      (I appreciate that there are quite a few differences between the UK and US banking systems so I may be missing something. It took me a while to understand why the US folk had such an issue with debit cards and I can't remember the last time I used a paper cheque. I have received a couple though. Typically our tax authorities are behind the times and a business VAT refund resulted in a cheque. I'd not had one in so long, I had to investigate how to pay it in.)

      Like
      • WordTenor
      • I'm the oldest and the wittiest.
      • WordTenor
      • 3 days ago
      • 1
      • Reported - view

      monkeyhanger "goes hand in hand with not direct importing" my bad, I didn't phrase that well. I mean it's a one-way entailment, as we'd say in semantics. If you are the kind of person who wants to reconcile to a paper statement you receive in the mail, it follows that you probably shouldn't be direct importing. Not that "If you don't direct import you must in turn reconcile to a paper statement." 

      So if someone desperately wants to reconcile to a paper statement, they shouldn't have their transactions auto-cleared by an import process anyway, since the paper statement hasn't been received. It's very easy to then reconcile to the paper statement--nothing is cleared before the statement is received. But if one is clearing transactions every day anyway, then they can reconcile to more than just the statement. 

      Like 1
      • dakinemaui
      • dakinemaui
      • 3 days ago
      • Reported - view
      monkeyhanger said:
      I still reconcile to my online bank statement more or less daily

      Due to your "daily" qualifier, I'd call this a  web or online "register", for lack of a better term, and is exactly how YNAB envisioned the workflow. In contrast, a bank "statement" is generated monthly and is either mailed, e-mailed, or can be downloaded in PDF format. 

      Like
      • monkeyhanger
      • No animals were harmed
      • monkeyhanger.1
      • 3 days ago
      • 1
      • Reported - view

      dakinemaui Fair point. Loose terminology. They have never differed. I check the statement balance to the bank register for that date when I receive it. The bank register has already been reconciled to YNAB so job done.

      Like 1
      • monkeyhanger
      • No animals were harmed
      • monkeyhanger.1
      • 3 days ago
      • Reported - view

       Actually, who am I trying to kid. I do occasional checks and that's what I would do if there were any concerns. In reality, any paper statements I do receive usually just get filed for tax purposes. 

      Like
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