From time to time I notice the bank feeds have duplicate entries and/or missing ones. What is the recommended way notice this? If there are only a few transactions from an account it may be easy to notice manually. Sometimes errors are buried within hundreds other transactions. I’m thinking of maybe comparing number and amounts of debits and credits to the bank statement?
I have a manual approach for reconciling my various accounts. I basically compare the ending balance of my accounts (which I calculate) to the account balances pulled in by the Tiller Feeds. I have a separate tab in my spreadsheet with beginning balances from the beginning of the year. I then have a running total of all of the transactions that take place over time. So the various debits and credits that take place over time added to my beginning balance gives me my ending balance. I then compare my ending (calculated) balance to Tiller’s Balances tab to ensure everything matches. If there is a discrepancy, I can usually figure out if t something is missing or came in incorrectly. I usually do this on a weekly or bi-weekly basis. It works for me, it’s quick and easy.
Does the separate tab include all of your accounts together or each account separately? I’m trying to figure out a good way to reconcile this as well, and haven’t 100% figured it out yet.
Each account is separate… I only track the “high activity” accounts here.
When reconciling, which I do for every account, every month, I use the statements tab and the transactions tab. In row one I will select filter, then in column G select the account I want to reconcile, and begin using the note column, checking it with an X for each cleared transaction. On the last transaction of the statement, I will enter the ending balance. Last I will select the statement column and apply the statement ID to every cleared transaction…then go back to the statements tab to ensure they match. Works like a champ every time. Note!!! Make certain to turn the filter off when you are complete.
This is a great approach @chris.larson1967 I’ll try this out.