Bank Reconciliation Program

iVillage Member
Registered: 12-21-2004
Bank Reconciliation Program
3
Fri, 11-18-2011 - 7:14pm

It has been a long time since I have posted...I was wondering what kind of bank statement reconciliation program do you use?

iVillage Member
Registered: 12-31-2010
Mon, 11-21-2011 - 12:48pm
I pay all my bills online and if I have one or two checks outstanding I note it mentally, but no longer "balance" a checkbook.
I have a savings account (my baby emergency fund) tied to my checking accounts so that if I ever make a mistake and do go over, I have a backup amount of money that will automatically transfer into checking.
I also put alerts on my account so it emails me if the balance falls under $500, or if a transaction from debit happens over $50 so I can monitor any potential fraud.
I then use Excel spreadsheets for my budget.
I list my projected income for the month at the top, then list what bills need to be paid for the month. When I pay something I highlight it in yellow. The bottom number is always $0 as I want to tell my money where to go, even spending and savings, so every red cent that should come in is accounted for. Bonus money goes to debts as much as possible.

OH, I put the spreadsheets on Google Documents, so I can share them with DH and he can approve and make changes with me (involvement helps us communicate better.)

-Marie
#Marie
iVillage Member
Registered: 03-15-2005
Sat, 11-19-2011 - 1:04pm
I think it depends on what you want to use it for. I use Quicken, and have for about 19 years now. I can tell you (literally) where just about every penny in that time has gone. I have not only checking and savings on there, but credit cards, mortgage, and investment info.

But I'm an anal numbers person. I need to know all of that...and it really helps me to be able to analyze our spending....I can easily see how much we spent on dance for my DD, or how things are changing (are we spending more on food, sports, utilites, etc) at a glance.

Jennifer


 


iVillage Member
Registered: 03-27-2005
Sat, 11-19-2011 - 11:50am

I don't use a program.