Reconciling
If you are in the habit of comparing your records with those of your bank on a regular basis, Money makes it easy to track the monthly statements your bank sends in the mail.
Transaction status
- Uncleared: The transaction is added to the account with no official confirmation of it.
- Cleared: The transaction has indeed occurred, and you are sure that it was not contrived. To mark a transaction as cleared, click the checkbox to the left of the transaction line. A dot will appear in the box.
- Reconciled: The transaction has been compared to and matches the bank statement. It is the final status that marks a secure transaction. After a transaction is reconciled, a check mark appears in its checkbox.
Reconciling an account
- Select the appropriate account.
- Click the gear icon in the Item Editor or go to Accounts, and select Reconcile Account. A list of all non-reconciled transactions pertaining to the account appears in the Workspace.
- In the Start and End boxes for date, enter the respective dates shown on your bank statement.
- In the End Balance box, type the amount shown on your bank statement. The amount in the Start Balance box is the ending balance from the last time the account was balanced. This amount is automatically calculated for you.
- Check the boxes for transactions that match those on the bank statement.
- While you add or remove reconciled transactions, the Difference line keeps changing. It shows the difference between the reconciled balance in Money and the balance shown on your bank statement. It should equal 0.
- When you are done, select Finish. If you need to interrupt the reconciling and come back to it later, select Save.
- If the Money balance matches the bank statement balance, the transactions are marked as reconciled, and you can wait for the next bank statement.