Reconciling your accounts is a crucial step to ensure that your budget in Climb Budget accurately reflects what’s happening in your real-world accounts. Reconciling means comparing the cleared balance in Climb with the cleared balance in your bank account. This step ensures that the transactions you’ve marked as cleared in Climb match what’s been processed in your actual account.
When you reconcile, you’re comparing the total cleared balance in Climb with what your bank shows as cleared. If they match, you know your budget is on track. If there’s a difference, it’s a sign that something may have been missed or was entered incorrectly. Regular reconciliation helps you catch and correct any discrepancies, giving you confidence that your financial records are accurate.
By reconciling your accounts regularly, you ensure that your budget truly reflects your available funds, helping you stay on top of your financial goals with clarity and precision.
Clearing transactions ensures that individual purchases or deposits match what’s happening in your bank account. Reconciling, on the other hand, is the process of ensuring that the total cleared balance in Climb matches the cleared balance in your actual bank account. While clearing is done for each transaction as it goes through, reconciliation is a final check to ensure your overall balance is accurate.
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