Recocile checking account with OFX file

[Michael Hendry]

> On 15 Mar 2015, at 17:42, David T. <sunfish62 at yahoo.com> wrote:
> 
> Dave, 
> 
> I am in the same general boat.  I usually download the transactions in one pass, and then reconcile in a second one.
> 
> David T
> 

Why bother with the reconciliation? You’ve downloaded the bank’s version of your account, and you’re going to compare it with (wait for it!) the bank’s version of your account.

If you’ve forgotten to enter a large future-dated online transaction, or a large cheque which hasn’t yet been presented, you’re due for a nasty surprise at the next download after these transactions actually hit the bank account.

Michael (still puzzled!)