Is it necessary to reconcile transactions?

Question

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!

NotACPA · Accepted Answer

You don't need to reconcile if your want to ALWAYS be uncertain as to what your Q account balances SHOULD be.Errors are caught thru reconciliation.  IF the errors are OK with you ... no need to reconcile.