Reconcile
Reconcile checks the cash in an account against your broker's statement, line by line, so you can trust the portfolio record to match what the broker actually holds.
A portfolio record is only useful if it agrees with reality, and small errors creep in: a dividend not entered, a trade typed twice, a fee forgotten. Over time the cash balance drifts from your broker's, and every figure that depends on it drifts too. Reconciling is the accountant's answer. You take the statement date and closing cash balance from your broker's statement and enter them here. The page then lists the account's cash movements up to that date, and you tick each line that appears on the statement. When the ticked total equals the statement's closing balance, your record and the broker agree.
If the totals do not meet, the difference is the clue: a missing entry, a duplicate, or a wrong amount, which you correct in the transactions ledger or the cash book, after which the ticking is finished. aNewFN does not fetch the statement or connect to your broker; you type the date and balance from the statement. Reconciling at each statement keeps the drift small and your record reliable.
Questions
Does it download my broker statement?
No. You type the statement date and closing balance from the statement yourself.
What if the totals do not match?
The difference points to a cash entry that is missing, duplicated, or wrong. You correct it in transactions or the cash book, then finish ticking.
Related pages
| Portfolio | The portfolio lists your accounts. Reconcile is the check that one of them still agrees with its broker. |
|---|---|
| Cash book | The cash book is the list of cash movements you tick off against the statement. |
| Transactions | Transactions is where you correct a missing or duplicated entry found while reconciling. |