Reconciling credit card statement

Question

A credit card statement has not been reconciled in several years. I show a monthly transfer from my basic checking account, which is reconciled monthly, but have just left it at that. Now I would like to begin reconciling the monthly credit card statement again. Can I make an adjustment entry for 12/31/2022 and just skip forward from my last reconciliation, which was several years ago?

Thank you.

RalphC · Answer

After ignoring your account for years, I would highly recommend just trusting your bank/credit card company and accepting a balance adjustment to become current.  Going forward, I would suggest you run a reconcile on your accounts upon receiving a monthly statement.  I very rarely find a bank error or credit card charge that's erroneous, but it's happened in the past.

NotACPA · Answer

That's your decision, it's your finances, but it can certainly be done