The blog of Mike (such as it is).
Archive for July 28, 2008
Reconciling 21 months of old personal bank statements?
Jul 28th
Checking line by line through 80 pages of old bank statements might not sound like fun. Well, it basically isn’t (though I don’t really mind).
Recently I just finished up a personal project to get the period of time between Jan 2006 and Sep 2007 completely reconciled in my personal books. There were about 1,600 transactions to individually verify.
Once I had eliminated about a dozen small transactions (recording $20 of money spent twice, etc) that didn’t belong on my side, something interesting showed up.
It looks like there was a bank error that had been hidden by my own small errors. The reconciled balance from Oct 2007 through the present had always been within a small margin of where it was supposed to be. Once the little duplicate transactions were stripped out, a $500 bank error became obvious.
So in exchange for the mind numbing work, it looks like the process will net $500 in adjustments that I wouldn’t have noticed otherwise. It had always bothered me a little that I hadn’t ever reconciled these ancient personal bank statements, and I finally did it, and it looks like there’ll even be a payoff.
Just thought I’d share. And now I’d better go something completely non-bookkeeping related before I get too many funny looks.