Reconciliation?

[navyblues]

What strategies have people used for account reconciliation? I was comfortable with MS Money's reconciliation, where it knows the last balance date and balance (or you enter it for a first-time reconciliation), and you enter the current balance date and balance, and then MS Money shows you all the unreconciled transactions since last reconciliation. You "clear" what matches, Money keeps a running tab of the difference, and when it gets to zero, you're done and Money marks everything "cleared" as "reconciled". To be clear, this is just about cash and credit accounts, not investments or loans. I suspect the latter is super tricky, and I never reconciled those in Money anyway.

I don't see a way to run a report containing unreconciled transactions -- status doesn't seem to be an option if I create a report. I can sort based on status, which will help, but am I back to basically paper reconciliation, at least for now? Or does anyone have suggestions? Now that my initial conversion is complete and I've marked everything that was reconciled in Money as reconciled in Maxim (and set a reconciliation point, though I'm not sure what that does?), I don't plan to download transactions, so it's not about an "automatic" reconciliation. I'm apparently a control freak and like to do a lot of things manually.

Side note: it would be nice for future users converting from Money if you translate reconciled trans in the Money file to reconciled in Maxim. Especially since voided transactions in the mix make it difficult/impossible to blanket mark a large group of transactions as reconciled -- they change to reconciled as well and mess up your balance. Lesson learned, lol.

TIA

[Campbell]

Ah, I hadn't realised I wasn't importing the transaction statuses, I'll make a note of that.

That's also a good point about not being able to filter on status - I will also sort that out.

This is how I currently do reconciling: https://maxim-money.app/help/Reconciliation.html. It works well for the way I do it, but I realise there are people who prefer the transaction-by-transaction method. I plan to implement that at some point in the future.

[Frelon]

Reconciliation is so much easier in 2026 than it was when you had to wait for the monthly Bank statement or Credit Card statement to drop on the door mat!

I can remember sitting at the dining table all those years ago with Microsoft Money and the statements, and trying to get the numbers to agree!

It is so simple now with instant online access to financial data!

I know that user methods can vary, but I input transactions manually and can then check online with the financial institution. I am then able to mark transaction as reconciled when necessary. Right click on transaction - Set Status! Easy Peasy!

I sometimes have little issues so I use "Correct Balance" and find what the discrepency is. Normally easy to work out from there.

Keep at it, it only gets better!

[Campbell]

I have added a new Reconcile feature in v1.12.1.0. Please see the details here and let me know what you think.

[Neill]

Did a test run on it (without saving my file after), overall its very easy to use so im happy and its another good improvement on what was in place before (which I found ok anyway)

One suggestion which would make it more like MSM and easier to use....

When reconcilling in MSM, I move my selection line up and down with keyboard arrows and select item as checked with spacebar
If you can add that it makes so you dont need to use mouse when reconcilling

Thanks

[Campbell]

Yes, that's a great idea, I will implement that.

[navyblues]

I have added a new Reconcile feature in v1.12.1.0. Please see the details here and let me know what you think.

I guess I didn't set this to sent notifications when I got a response! I happened to notice the reconciliation feature when I logged in and was prompted to update and saw in the release notes that it was available.

It's different from MS Money, but only slightly, and I can deal with it. For example, when I went to reconcile a credit card statement, I entered the balance as positive, so it wanted to created transactions to "correct" everything. I had no idea what it was doing until I realized I needed to enter my credit card balances as *negatives*, but again, that's not a big deal. I completely understand why they're negatives.

One other thing is that in Money, deposits are separated from non-deposit transactions, which is as it is (mostly) on my bank statement, and that was handy. Again, I can deal with it just being in chronological order. What *would* be helpful, if it's not too much trouble, is changing the status bar output slightly... instead of showing the total of transactions (or in addition to), show inputs separate from outputs? So, for example, if all my transactions resulted in a net +$100, but I have deposits totaling $500 and checks/debits totaling $400, it would be easier to see which type I need to focus on if I'm off from the statement. The statement shows me starting balance + deposits - payments = ending balance. I hope that makes sense. But again, I can live with it the way it is. So the status bar *could* show (I don't remember the exact verbiage) "Transactions total $100: deposits $500, debits -$400" or something like that. Or you could change the wording to be more flexible so it makes sense for all transactions types. Maybe "in/out"?

My one complaint -- and this has everything to do with importing from MS Money, so maybe not worth researching/fixing -- is that I have several checks from the past that haven't been cashed. I haven't voided them because hey, there's still a chance they will be! But the reconciliation process wanted to create a correction entry for those as well (because my starting balance from the statement was more than the balance in my checking account in MM). But I just deleted it and was able to reconcile. I'll find out next month if this is a recurring issue. But also, this is the only account this would be a problem, so it's not a huge deal. I suspect I'll eventually void those transactions at some point anyway!

Anyway, THANK YOU for reconciliation. I realize I'm a little old-school about this, but that's one of the things I relied on in Money to help me find transactions I forgot to enter/didn't know about. (Hubs isn't the best at telling me when he gets gas!)