Bank Reconciliation with Budget Express: Easier than you think – 2016

28 Oct 2016

ajustementsI decided to add an older blog post because it’s still an important issue for Budget Express, I received lots of questions about this feature. It’s one of the feature that differentiate Budget Express from other personal finance software. Budget Express will never ask you to connect directly to your bank account within the software, we prefer you get the information from your bank to the software manually, it’s a security question. 

You can check your transactions in Budget Express by comparing them with those of your bank statements and make appropriate corrections manually. However, there is a much faster way to achieve this: the bank reconciliation.

This Budget Express option allows you to import a transaction file provided by your bank (usually generated from the online bank services). Thanks to this file, you will be able to associate your actual operations to those that were planned in a few clicks.

Bank reconciliation in Budget Express 4 works exactly as it worked in version 3.

Here is how to do it, step by step.

1- In your online bank service, save the transaction file that is provided (in CMD, OFX, QIF or QFX format). You may find it under a “bank reconciliation” link. As the procedure varies for each bank, please refer to their customer service if you need help finding it.

2- In Budget Express, from the Welcome tab, click on “Bank reconciliation”. Import your transaction file as indicated.

The three next steps are illustrated on the following image.

3- Select an operation from the list on the left of the screen. (These are your real operations.)
4- Click on the corresponding operation’s icon in your Budget Express calendar. (Do not double-click or it will create two operations.)
5- At the bottom of the screen, click on “Reconcile” button. (This button only appears if steps 3 and 4 are done correctly.)

There you go! Repeat steps 3 to 5 for each operation.
The bank reconciliation is a success when the operation turns blue in the calendar.

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