Cleared Transactions - Confusing!
Every time I import transactions from my banking accounts to YNAB they import as already cleared--obviously they have cleared if they imported. However, trying to reconcile my YNAB to my bank is cumbersome. Am I just doing it the wrong way?
I go down the list of transactions from my bank statement and check off each one in my YNAB to make sure everything is correct--but I have to check off YNAB too or I may miss something. So I mark those as uncleared until I am done and then mark everything cleared?
That seems ridiculous. There has to be a better way! Did I miss an class on this?
-
Don’t reconcile to a statement. Log onto your bank and confirm that the cleared balance in YNAB equals the cleared balance at the bank. Click the reconcile button!
Reply -
It is never the same! I have to download transactions--my bank doesn't allow linking, which I am very happy with for security purposes, but things go missing when I do it that way, so I have to check things off to find what is wrong.
Reply-
Navy Blue Mare
Every time you downlink transactions, reconcile your account. Look at your balance online, click the 'Reconcile' button in the upper right corner of the register. If the balances are identical click 'Yes'. If they are not identical dismiss the dialog by clicking out of the area, find the error and then reconcile until you can click 'Yes'.
Reply -
MustangManiac It is too cumbersome. I can't find the errors because everything is cleared, so I am back to unclearing items to find the error and then clearing them. Trying to streamline this, as the reconciliation is really off:P
Reply -
Navy Blue Mare how often are you reconciling? I reconcile every few days so there are very few transactions to have to deal with since reconciling locks transactions. I also do 100% manual entry on all my accounts (8 credit cards, 3 check and 3 saving, plus wallet).
Reply -
jenmas I try to do it every week or 2x per week. I download but also manually input - the download catches duplications.
Reply -
Navy Blue Mare do the downloaded transactions not link to the YNAB transactions?
Reply -
Hi Navy Blue Mare !
Have you tried using the Selected Total feature in your register instead of unclearing those transactions? When I run into a reconciliation error, I select the transactions in my register in the order they took place in my bank account - it helps me find exactly where things fall out of line.
Reply -
Navy Blue Mare I suggest you slightly overlap the import timeframe to ensure no gap and therefore no missing transactions.
You're making things harder by reconciling to a statement, but you can obviously do it if you like. Simply unclear all transactions marked as cleared and then proceed as normal down the bank statement.
Again, though, it's usually far easier to reconcile to the current balance from the web site, because you should be done immediately. (The current cleared balance is the last reconciled balance plus new cleared transactions -- which the bank just gave you and conveniently cleared all of them.)
The primary issue people face is that you must provide a balance that excludes pending transactions, which can be difficult to obtain from some web sites.
Reply -
Faness I haven't I will have to look into that. Thank you!
Reply -
dakinemaui I have been doing exactly what you say and it still isn't matching. Right now I am just accepting that the bank is right, but that is not always true! :P
Reply -
Faness Great gif! Super helpful. Thank you🎉
Reply
-
