Balance an account against a statement
There are two ways to balance ((Advanced Account Register only) Verify that your bank balance and your Money account balance agree, after verifying transactions and making adjustments for items entered into Money that haven’t cleared your bank. ) an account (A group of transactions in Money for a single bank, brokerage, retirement, loan, or credit card account. Accounts can also track assets such as houses or vehicles, or investments that you want to watch but do not own. See also watch account.) against a statement (Bank or brokerage records of transactions processed in your accounts. Statements can be on paper, or they can be downloaded or imported from your bank’s Web site. ) :
- You can automatically adjust an account balance to match the bank’s balance by having Money do it for you.
- You can manually balance an account against a statement by reviewing every transaction (A withdrawal, deposit or transfer of funds, or a purchase, a sale, or an exchange of a security. ) in the statement.
Note: To perform this advanced task, you must be using the Advanced Account Register. To find out which register you’re using, look for the Essential Register or Advanced Register label in the upper-right corner of the account register.
Automatically adjust an account balance to match the bank’s balance by having Money do it for you |
If you’ve set up online account updates or online services (Services provided by your bank or brokerage for common banking tasks, such as paying bills, over the Internet. ) for a bank account, a credit card account, or a cash account for an investment, Money can automatically adjust the account balance to match the balance shown on your bank or brokerage statement. First, you’ll need to accept all downloaded statement transactions for the account before Money can automatically adjust your account balance.
You can choose to have Money do one of the following things to make your ending balance match your bank or brokerage balance:
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Manually balance an account against a statement by reviewing every transaction in the statement |
Before you start, have your bank or credit card statement handy.
Note When you update your accounts online, an E (for electronic) appe |
Related topic
Problems with balancing accounts