Reconcile bank account(s) in MoneyMinder
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Reconciling or “balancing” your bank account is the process of comparing your MoneyMinder
register with your bank statement to confirm that your records are accurate.
Let’s walk through this process.
Click Banking in the sidebar.
Click Actions to the right of the bank account.
Choose Reconcile from the dropdown.
Click Begin Reconciliation.
Enter the Bank Statement Ending Date and the Bank Statement Ending Balance.
Then click Continue Reconciliation.
Compare the bank statement with the transactions listed in MoneyMinder’s reconciliation list. For each transaction that appears on both, click the radio button in the Cleared column to mark it as cleared.
Once all transactions that appear on the bank statement have been checked off, the Record Reconciliation button should become available.
If it does, click Record Reconciliation.
If the Record Reconciliation button is not available, MoneyMinder and the bank statement do not yet match. Review the information carefully and make sure that:
- The ending date is entered correctly
- Then ending balance is entered correctly
- All transactions for that month have been entered into MoneyMinder
- Transaction dates are correct
- Transaction amounts are correct and no numbers have been transposed
- There are no duplicate transactions
Note: Your MoneyMinder register should include all transactions show on your bank statement. However, it may also include transactions that have not yet cleared your bank. These transactions will not appear on your bank statement until they clear. As a result, the balance in MoneyMinder may not always match your bank balance.
How to handle uncleared checks from the prior financial year that cleared in the new year
How to handle old checks that never cleared the bank
I am trying to reconcile our account for our PTA. It’s not being able to work and I’m not sure what is happening.
Hi Tanya,
When you click on the Banking icon in the toolbar, then on Reconcile (under the Checking account), do you get to a window that asks for your bank statement ending date and balance? After you fill out those fields, do you see a list of transactions that you can check off (if they also appear on your bank statement)?
Let me know where you’re having trouble and I’ll walk you thru the steps.
You’re also welcome to email me a copy of your bank statement and I can see if I can identify where the issue might be.
Cyndi
I have reconciled every month this fiscal year, but since I uploaded the latest version – my past reconciliations don’t appear to have saved – do I have to go back to my July statements and redo it all.
Note: Since this is our general fund – it is never completely reconciled because there are always outstanding checks from bank statement to bank statement.
Thanks
Hi Carrie,
I’d be happy to help you with those reconciliations. I’ll email you privately so that I can best assist, privately & securely.
Look for an email from me.
Warm regards,
Cyndi
are there plans to add bank recon as a feature to the bank import?
Hi Becky,
Great question! I have included a portion of a Knowledgebase article (https://moneyminder.com/knowledgebase/importing-bank-transactions-from-your-bank/). When you go to reconcile, imported transactions will in fact be pre-checked saving you time 🙂
NOTE: MoneyMinder recognizes duplicate transactions, saving you from accidentally importing duplicate entries. You can also hide your already imported transactions. And best of all, when you go to reconcile, imported transactions are pre-checked, saving you time.
Please let us know whenever we can help!
Warm regards,
Julie
Hi Becky,
If I’m understanding correctly, you’re wondering about auto-checking off of imported entries when you are in the Reconciliation window? If so, yes that does already happen.
Cyndi
I am trying to finish up reconciling our account but the Food/Store Clearing doesn’t seem to be balancing. What might I be doing wrong? Everything else has aligned without an issue
Hi Sara,
I see that a ticket was opened for this and it looks like it was resolved. Please let us know if we can help with anything else!
I am having problems reconciling my account for August 2024. All the numbers on my bank statement and the money minder statement agree. All transactions have cleared. I clicked that for all the Debits and Deposits but it is saying I am not reconciled. I looked at every transaction and they are all correct and line up. It says I am -$3,191.50. When I total all the numbers by hand it balances. I haven’t had this problem before. I am not sure whey the program is telling me it is wrong. Please help.
Hi Sarah,
Feel free to live chat or schedule a call with us so we can help you with your reconciliation. Here is the link to our contact page: moneyminder.com/contact/
I signed up for Money Minder in June with trial and going to purchase in a few days. The next fiscal year starts 7/1/26. I didn’t reconcile 2025. I am getting discrepancies on the savings ($3.47) and checking accounts($1218+). I added the dividend transction on saving, but I am off by $1.00 and the statement does not reflect that missing dollar. Chat is helping with the process but not the problem
Hi Angie,
I would suggest chatting in during our business hours, 8 am – 5 pm PT, Monday – Friday. You can chat with a customer support representative to help resolve your issue.
Is there a way to transfer over a check that was not cashed in a previous fiscal year to a new fiscal year? We have a check that is outstanding still and we entered into a new fiscal year what would be best way to handle this situation on moneyminder.
Hi Vanessa,
Yes, this article shows how to carry the bank balance and uncleared transactions into the new financial year so they can be reconciled. It also shows how to manually add uncleared checks. moneyminder.com/knowledgebase/transferring-bank-balances-to-the-new-financial-year/