FAQ #: 125
I bank online. Can I use the Bank Reconciliation program every day to make sure I am in balance with my bank?

The Bank Reconciliation program is set up to allow you to enter the Statement Date and Statement Balance on your current statement or reconciliation date. Any transactions that have been future dated will not be considered. You can clear checks, deposits, and credit cards in Answers, as well as enter any fees as they clear your account and balance daily, weekly, etc.

However, you should not use the "Save and Complete Reconciliation" option (green checkmark) until you are finished with the month's reconciliation. This stores the Statement Date and Statement Balance as the beginning point for the next month's reconciliation. If you use this option every day, the checks you cleared the day before will no longer show up in the "cleared" checks, and so on with the deposits. So, it will be more difficult to view all the checks, deposits, and credit cards that have cleared for the whole month.

If you plan to use the Bank Reconciliation every day or every week, that is fine, however, you will probably only want to "Save and Complete Reconciliation" monthly after you have verified that all your cleared totals match your bank statement.