What Do You Do When You Reconcile?

I’m receiving requests by some users to be able to “reconcile” in YNAB. So, I’m throwing it back at you: what exactly do you do when you reconcile? What is the process from start to finish?

I need to get my head around the process people are expecting before I can incorporate it (or attempt to debunk it!)

Please leave any comments you have below.

4 Comments

[Leave a comment]

Tara Burdette
June 26, 2010

We need to be able to reconcile like Quicken reconciles. Check off everything that cleared from your monthly statement, choose reconcile, enter your ending balance and see if it zero’s out. If so you’re right on track. If not you can find out what you missed because a list of cleared and uncleared items show up side by side.

Tara Burdette
June 26, 2010

The system is useless for me if I cannot reconcile like I could in Quicken. I was $500 off but had no way to figure out why. In quicken I will know immediately.

Stuart Blackburn
July 14, 2010

As a new convert to YNAB from MSMoney, I am very pleased with the tool.
However, the ability to reconcile one’s account with the monthly paper statement is a must for any personal finance software.
I see this post originated in 2006.
When can we expect to see this request addressed?

Shirley Camarillo
August 25, 2010

I purchased this software after I purchased an iphone, because I thought I could save myself time and input transactions while on the go. Then I’m able to conveniently sync them when I am home. However, I just went to reconcile, which I am two months overdue, and could not find out how. Realizing now that YNAB does not have this feature, I’m not sure what I am going to do. I stopped using Quicken when I transferred to YNAB and so now I am not in agreement with what my online totals are for my bank account. The only way to make sure what you have and what the bank says you have is to reconcile your account with the paper statement. My husband didn’t feel that this was a necessary purchase, now I have to break this news to him…

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This is The Wallet. My name is Jesse Mecham, founder of YNAB. Here I focus on the YNAB methodology, software, personal finance, and more.

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