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iamlyth

[Community Question] How often do you reconcile your transactions? (self.ynab)

submitted 1 year ago by iamlyth to c/ynab

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Sorry for the delay! I meant to post yesterday.

Today’s Question: How often do you reconcile your transactions? Bonus question: Do you primarily rely on sync or do you manually input your transactions?

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[–] [email protected] 2 points 1 year ago (1 children)

I usually do it every handful of days. I typically manually input all transactions I do in person and rely on sync to catch automatic charges. Matching transactions clears them so reconciliation is usually a breeze. It's only gotten a bit cumbersome with one account in particular which has broken sync.

[–] iamlyth 1 points 1 year ago (1 children)

Do you ever do recurring YNAB charges for automatic charges?

[–] [email protected] 1 points 1 year ago

No, it really hadn't occurred to me. But, thinking about it, I'd rather look for a missing transaction than potentially one that's off by cents 😅

Also, some transactions are every 30 days rather than on the same day every month so it can get complicated.

[–] iamlyth 1 points 1 year ago

I reconcile roughly 3 times a week. Since I have an Apple Card (and a couple AmEx cards which never sync) I’m forced to do manual input so I reconcile frequently to make sure I don’t have to scroll back far to find errors.

[–] [email protected] 1 points 1 year ago

I reconcile daily because I don't have automatic import, and I'm still using the old YNAB. I mostly use Apple Pay which means that I enter every transaction of the day that is shown in my notifications, and it takes at most 2 minutes in the evening.

[–] [email protected] 1 points 1 year ago (1 children)

Budget accounts, daily in the morning with a coffee. Takes less than 5 minutes

Loan accounts, weekly, no direct import so I have to log in and YNAB is, not perfect with non-mortgage, so I have to adjust the interest charged when reconciling

Tracking accounts, end of month. Takes a bit longer since I update a spreadsheet with them since they are mostly investment accounts.

[–] iamlyth 1 points 1 year ago (1 children)

Yeah I have a variable rate HELOC that I reconcile when I get my statement, so once a month. I’m impressed that you do a daily reconcile!

[–] [email protected] 1 points 1 year ago

The automatic import, and the fact that a lot of my accounts are with the same bank, makes it really easy.