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What does it mean to reconcile an account?
The two purposes three goals of reconciling your account register are:
To make sure your Quicken balance is correct.
To find and fix transaction errors.
Spot fraudulent charges or bank errors.
The two These three goals are related. If you have the same transactions as the bank then your balance, which is the sum of all your transactions, will be the same as the bank’s balance. Your bank calculates the account balance as the sum of all your transactions.
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