How often do you work on your budget and reconcile? Daily/Weekly/Monthly?

For those of you who have no problems with reconciling your accounts, do you do it on a daily/weekly basis? The first few months of joining YNAB I was so exited and doing it every week and did not have any problems, then summer hit with vacations and kids home from school and that is when the problems of not being able to reconcile have started.  Over the next year I've only found myself sitting down every 4-6 weeks to categorize all my transaction and budget and assign every dollar a job. Whenever I try to reconcile my accounts that are imported into YNAB with the amounts showing on my actual bank statement and credit card statements, one or more of my them are off and don't reconcile. This has been lengthily and frustrating to print statements from credit card and bank and highlight every transactions as I clear them in YNAB. Sometimes I find what is wrong, sometimes not.  I have restarted a new budget 3 times in the past year to get a fresh start and hopefully fix the problem. Is my problem that I let 4-6 weeks go by and it really needs to be done daily? It's my goal to sit down at least once a week and I'll keep trying and I've started to make myself sit in my car and log the transactions into my phone right after going to the store and hope to make it a habit but with 4 little wiggly little kids this habit has not stuck in the past but I will keep on trying! Would love any tips in making budgeting more of a daily/weekly part of my busy life. Thanks. 

56replies Oldest first
  • Oldest first
  • Newest first
  • Active threads
  • Popular
  • My bank (and this is the same for my friends with the same bank who are also using YNAB) somehow always succeed to have more money than YNAB, no matter how careful I am when I am entering expenses. I mean, better that way than the other, but that also mean reconciling once a month.

    Like
      • jenmas
      • jenmas
      • 1 yr ago
      • 2
      • Reported - view

      Alice if it never matches, you should probably be reconciling more often than once a month because you’re data entry is getting messed up somewhere along the way.

      Like 2
      • WordTenor
      • I have the honor to be your obedient servant
      • WordTenor
      • 1 yr ago
      • 4
      • Reported - view

      Alice If it is always wrong, the most likely culprit here is that you are misinterpreting the information on your bank screen and continually comparing the wrong numbers. These days, some banks have taken the government mandate to make the working balance obvious to the extreme of making it difficult to find the cleared balance (to say nothing of the fact that these balances might be called by different names by your bank, like “statement” and “avaialble”). 

      Make sure that you are looking at the balance at the bank which does not include pending transactions, usually called “cleared” or “statement” and comparing it to the cleared balance (not working) for the same account in YNAB. 

      Like 4
  • I’m on YNAB daily. I reconcile daily, I need to make sure that my numbers in YNAB reflect reality. 

    Like
  • I am frustrated with YNAB, have used it for years. But it does not show pending, and it takes forever to actually import the transactions. I used to put them in manually because the import was long. Then when the import came it was like double transactions. And there is no search mode to look for double transactions.  An option I have asked them about. And like the above poster said, some days my life is hectic with my business and filming and stuff and can't manually enter every transaction. I do my bills every two weeks, and by the time I sit down to do it there might be over 50 transactions to go through. So time consuming.  And I have a lot of accounts,  so like a  lot of accounts to go through. Need a better way. There is no way I can sit down twice daily and reconcile.  I need a program that can keep up with an active life and business.

    Like 1
      • Ceeses
      • Ceeses
      • 5 mths ago
      • 1
      • Reported - view
      Tan Clarinet said:
      Then when the import came it was like double transactions.

       I thought YNAB matches the import with the manual entries? Or maybe your bank is as useful as mine and add the date of each transaction in the payee field, which prevents the matching to work automatically. The only way I found is to slowly spend a bit of time in the Payees Management window (click your Budget name). By default, YNAB records renaming for exact names but it has an option to rename if the imported payee "contains" some words. It can be quite time-consuming to change all of them but doing it a bit at a time works fine. Now, I can do file-import and 99% of the transactions will match with manual entries. It's just the odd infrequent payee that needs manual matching. I actually don't match. I import, check the cleared balance = bank cleared balance (it works 99% of the time, when it doesn't work it is usually if I haven't reconciled for a while and need to import older transactions) then delete all unclear transactions that are not pending at the bank. It's easy to sort transactions by the clear status (click the "c" at the top of the clear column).

      Like 1
  • You should be checking that you have money in the category before you spend, otherwise you're just tracking and not really using your budget to change your behavior, which is the beauty of YNAB.  It's really not that hard to do it on the app, just take the 1 minute to enter the amount and category every time you spend from a budget category that you need to track.  I let things like electric, water, etc, download and just approve them, but any categories where I may overspend, I enter as I spend.

    Like 2
      • esinclai
      • Just a Chicago quasi-geek
      • Tan_Hammer_172df49d3dec
      • 5 mths ago
      • Reported - view

      PhysicsGal So much this - I let the last couple months fall apart on be proactive and intentional, and am now spending some time on recapturing my discipline and working towards some peace of mind.

      Onward!

      Like
Like1 Follow
  • 1 Likes
  • 5 mths agoLast active
  • 56Replies
  • 980Views
  • 32 Following