Balancing my checking account

General Discussions and Announcements

Balancing my checking account

Postby mcn001 » Thu Mar 17, 2016 8:50 pm

So this is the third month I've started to balance my checking account, and the Beginning Balance that comes up never matches my bank statement. The last two months, I just let the system correct the balance. The difference is usually a few hundred dollars or more, so getting concerned about my real balance and what is showing in my register. Also, there is no option to input the correct starting balance.
mcn001
 
Posts: 8
Joined: Sat Jan 09, 2016 5:44 pm

Re: Balancing my checking account

Postby mthadm » Thu Mar 17, 2016 9:11 pm

Hello,


Please take a look at this wiki article - http://wiki.mthbuilt.com/Account_balances_explained

Please feel free to reach out to us directly at info@mthbuilt.com if you have further questions

Thanks,
---
MTH Software

Reminder: MTH Software employees will never ask for the username and password for any of your banking or credit card accounts.
Please do not provide this information when using our contact form.

My Money download page: http://www.mthbuilt.com/download.html
My Money manual: http://wiki.mthbuilt.com/My_Money_2.0_Manual
User avatar
mthadm
Site Admin
 
Posts: 1056
Joined: Mon May 05, 2008 12:58 am

Re: Balancing my checking account

Postby stretch1100 » Mon Jun 13, 2016 8:46 am

Hello mcn001,

This may be a silly question. "Why would you worry about your beginning balance?" I think you should be more worried about the Ending Balance being as per your bank statement. The starting balance will be your previously reconciled/balanced amount. You should not normally need to adjust this.

Cheers,

Stretch
stretch1100
 
Posts: 13
Joined: Sun Dec 22, 2013 3:43 am


Return to General Discussions and Announcements

Who is online

Users browsing this forum: No registered users and 2 guests

cron