Dear Liz: Any suggestions for the best way to catch up with monthly statements from checking accounts? Friends and I need to know: Should we start from the first one we missed or work backward?
Answer: With the switch to online banking, many people don’t reconcile their checkbooks anymore. In fact, many don’t use checks, so there’s no risk that one will clear belatedly and trigger overdrafts.
That’s not to say overdrafts aren’t possible or that errors and fraud don’t happen. People should review their transactions regularly, even if they don’t reconcile.
To answer your question, typically the best way to start reconciling your checking account is to start from the first month you missed and work forward.