Balancing accounts using the Reconcile Tool

Overview

1. Overview
The purpose of reconciling an account is to ensure that neither the user nor the bank have mad a mistake in recording transactions. Just as many people balance their checkbooks by comparing entries in the book to entries on their bank statement, Moneydance has a Reconcile tool which can be used to "check off" transactions as they appear on your official bank statement.

You can also reconcile transaction individually, though this shortcut is less informative than using the Reconcile tool. Each transaction has a reconciled status, marked in the transaction register by a symbol in the column labeled "C". When you are editing a transaction, the reconcile status field toggles between diamond, checkbox, and blank when clicking in the square. You can also toggle the cleared status of any selected transaction or multiple transactions by right-clicking (or command-clicking on a Mac) it in the register and selecting "Mark as Uncleared," "Mark as Reconciling," or "Mark as Cleared."

2. Preparing to Reconcile/Troubleshooting