Is it necessary to reconcile transactions?

I used to use the accounting software, Xero. My acc't balances were almost always off. I think this was due to the 'start dates' for each account being different. Matched transactions between different accounts created inaccurate account balances within the software.

I don't want to run into this problem again with Quicken. I mainly use Quicken for the budgeting feature anyway. Therefore, is it necessary for me to reconcile transactions? What problems could it create if I do not reconcile?

Thoughts?

Thanks in advance!
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  • majesticoj
    majesticoj Member ✭✭
    @NotACPA Okay...... Thanks.
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