When you make a purchase or deposit money into your account, it doesn’t always appear in your bank immediately. These transactions may remain in a “pending” state for a short time before they fully clear. Once the transaction has cleared your bank, it’s important to update this in Climb Budget to keep your records accurate.
When you first enter a transaction in Climb Budget, it will show as not cleared—represented by a horizontal line. This reflects that the transaction is still pending. Once the transaction clears your bank, you’ll need to update it by clicking the cleared button on the right-hand side of the transaction. Once cleared, the transaction will show a check mark, letting you know that everything matches up with your actual bank account.
Regularly clearing transactions helps ensure that your budget is always up-to-date and aligns with your actual account balance. It’s a simple but essential step in maintaining financial accuracy and staying on top of your money.
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.
