What is a reconciliation account?

The act of confirming that the balance in one's checkbook matches the corresponding bank account. Normally called 'balancing your cheque book', which should be done with you bank statement at the end of the month.

I use the Quicken programme for my money in and out. I mainly use a debit card for my everyday transactions and must enter my receipts at the end of the day. I always know just how much I have and when. All my monthly bills are paid on line.

Exactly what tickle says. I do it weekly, reconcile that is. Print off your bank statement online, then match it with what you have deducted and added to your check book. (It is that little book that the bank gives you with your checks) Keep all your receipts in the checkbook until you have reconciled. This is a great way to keep track of fraud on your account. Also don't forget your bank fees. Also this is the perfect time to do through your receipts after reconciling them and putting the ones aside that can be written off at the end of the year, child care, medical, home improvement etc. Put them in a shoe box if you have to. Makes for easy filing at the end of the year. At least that is what I do. My checkbook is never off.