Interesting times! I use YNAB for budgeting and tracking expenses. A few days ago, I was trying to reconcile the balance in our checking account (shown on bank's website) with the balance in YNAB for our checking account.
I only had two outstanding transactions, so it should have been easy. The balance at the bank was $98.94 more than YNAB. I did a quick search on YNAB and found two transactions for that same amount, one an inflow and one an outflow, effectively canceling each other out. The true transaction was suppose to be recorded as a deposit, one had come in automatically and was correct, but likely I entered a manual transaction for the check received and entered as an outflow instead. As I said they cancel each other out. Oops!
Guess how long ago this error occurred? No not just last month, but 14 months ago!! The transaction was from the end of September 2022. Yes, 2022. Obviously having more in your account than you are tracking is better than the opposite. I have no idea why I didn't catch it earlier. I have reconciled somewhat regularly on YNAB since then, but I guess wasn't actually comparing the balances.
Lesson learned. I need to get back to manually observing the bank balance, rather than relying on YNAB. Have you reconcile your bank balance lately?
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