In this article, we used a checking account as an example. You can reconcile any type of account, however you can only reconcile one account at a time.
Reconciliation is the process of making sure that the transactions listed in your YNAB account register are the same transactions that your bank has in their records.
When a transaction you have recorded in YNAB also appears in your bank’s records (which you can verify through your bank’s website or a paper statement), that transaction is described as “cleared”. When all of your transactions match, your account is said to be “reconciled.
Step 1: Click on Reconcile Account in the bottom right-hand corner of the account you wish to reconcile.
Step 2: Enter the most recent balance from your account’s website or paper statement. Make sure that date is the same as the date shown in YNAB.
If your cleared balance in YNAB matches as your bank account or statement, click “Use this amount” and YNAB will begin the reconciliation process for you. At that point, your account is reconciled. Click the green “Finish Reconciliation” button.
If your YNAB cleared balance doesn’t match the bank, enter the bank balance and begin reconciliation.
Step 3: “Click Begin Reconciliation”. In the reconciliation window you will see five lines:
Step 4: Now, clear the transactions in your YNAB register that appear on your bank statement, making sure the amounts match. Do this by clicking the grey “CLEARED” box on the right-hand side of the transaction line.
If you have manually cleared items before, or if you have imported transactions from your bank, many of your transactions may already be cleared.
As you clear transactions, the difference between YNAB and your statement will grow larger and smaller.
If the cleared balance is larger than the statement balance, make sure you have recorded all spending. If the cleared balance is smaller than the statement balance, make sure you have recorded all income.
Beyond that, look for discrepancies between YNAB and the bank.
When the difference between YNAB and your statement reaches zero, your bank balance is reconciled with YNAB. At this point the “finish reconciliation” button will turn green.
You can clear or unclear transactions using the "C" on your computer keyboard. You can do this in bulk as well by selecting a number of transactions and then hitting "C".
Step 5: Click Finish Reconciliation to finish.
If your register and account don’t fully reconcile, but you’d like to finish before the difference is zero, you can make an adjustment transaction to bring things into balance, or continuing to reconcile.
Remember that if you add a transaction, it will affect your Budget - make sure you look there for any effect!
You can stop your reconciliation process by click “Stop Reconciling”.
There are three transaction states:
Reconciled: These transactions have cleared the bank and been reconciled. Once a transaction has been reconciled, a lock icon will appear next to it.
Cleared: These transactions have been cleared, but not reconciled against a bank statement.
Uncleared: These transactions were entered by you, the scheduler or a mobile device. The bank does not know about them, so they are not cleared and have not been reconciled.
You can still edit transactions that have been reconciled, however keep in mind, this may bring the reconciliation out of balance.
Yes. In the header of the account click on the lock to view only unreconciled transactions.
If you click on the lock with the strike through, that will hide all reconciled transactions.
You can also use the search feature to search for unreconciled transactions by typing the letter "U" and selecting unreconciled from the search filter.