Reconciling the Accounts (Checking, Savings, Credit Cards, etc.)

Dick_Davis · July 29

After spending 45 days with Simplifi, I have learned a lot, and this learning is also from how helpful the Community has been and will be as I learn more. Thank you all. (If this has been discussed or partially discussed, please pardon.)

One of the questions I have is “how are others doing the account reconciliation” as well as “making sure that there are both sides of the transactions in the accounts.” I have set my transactions to be with one color flag (purple) as they are downloaded and with my first attempt at reconciling, I change the color flag (green) and mark the transaction as reconciled. For the first time reconciling, I filtered for the purple flag in each account and then marked each transaction as reconciled and change the color flag to green. After working with Simplifi each time, I scan my transactions to be sure that none of the purple flags are marked with the green reconcile. I do this check since Simplifi will mark a transaction as reconciled.

Also, without a reconciliation report, I must just be careful that I have all the transactions, and they are marked with a green flag and reconciled. It would be helpful to have a reconciliation report for transactions that are not marked reconciled and use the statement date to select transactions that are not marked reconciled.

Dick_Davis · July 29

Sorry used "reconcile" instead of "reviewed".

SRC54 · July 29

I don't reconcile at all as I just double check with Quicken Classic. Between the two, I catch any errors I've made.

Your method seems as good as any. Some people just use the review column. They leave all their transactions unreviewed (marking unreviewed any transactions that Simplifi automatically marks reviewed) until they get their statement.

EL1234 · July 29

https://community.simplifimoney.com/discussion/comment/56194#Comment_56194

I use that method (marking transactions as Reviewed) and while it's very useful, it's not foolproof. For example, I noticed about a couple months in that my Target Redcard wasn't syncing transactions. If a transaction got deleted by mistake (either by me or due to a glitch in the system), that would also fall through the cracks unless I noticed it.

(Because Simplifi also pulls in account balances, that wouldn't affect my cash flow projections, but it could affect the spending plan).

Dick_Davis · July 30

@EL1234, I have run in to that as well already and had to do a re-entry.

EL1234 · July 30

Yup same here, but you have to notice in order to re-enter the transaction. That's the value of a true reconciliation - it forces you to find what's missing. It might be beyond the scope of this app though.

Dick_Davis · July 30

@EL1234, that is absolutely true. As of right now, I check each off that matches and then hi-light the ones that I have to go and find.

EL1234 · July 30

And hope you don't delete one later by mistake!

Dick_Davis · August 1

Unless I am not doing something right, when I edit a transaction, it no longer will market the transaction as reviewed. (Version: 4.69.0, today's update)

EL1234 · August 1

I see the same thing on my end! In addition, when bulk editing transactions and not specifically setting Reviewed, it doesn't mark them as Reviewed like it used to (as recently as yesterday).

This is a super helpful update/fix, thank you Simplifi!

SRC54 · August 1

I have noticed it also. It will be a big help for the reconcilers. Also, it will be a more consistent user experience.

Reconciling the Accounts (Checking, Savings, Credit Cards, etc.)

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