Chapter 7. Reconciling Accounts
Admit it: Your least favorite part of having a checking account is the monthly struggle to get your handwritten register to agree with the bank’s balance. No matter how careful you are to record every check, debit card withdrawal, and ATM fee, the numbers never seem to match. Tracking down the error is an exercise in frustration—did the bank make an error? Or do you have to redo your math yet again?
Every step of the way, Quicken takes the agony out of reconciliation. First of all, it does the math for you, error-free. If you download transactions from the Web, you may even be able to reconcile with a single click, since your register and the bank’s will always agree on which checks have cleared. And if you do transpose numbers or forget to record an ATM withdrawal, Quicken has tools to help you isolate the problem.
With reconciliation being so easy, there’s no excuse for not doing it. Never again will you bounce a check because you thought you had more funds available. Furthermore, when you reconcile regularly, you’re more likely to catch transactions that you didn’t make—and catch some con artist using your finances for his fun.
Your First Reconciliation
The first reconciliation for a bank account is always the hardest, because ...
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