We had a client that used accounting software that did not have a reconciling feature built into the software, you may have heard of it, QuickBooks Self-Employed. I guess their motto is that if you connect the program to your bank and download all the activity into the books, that is enough and no reconciling is required. This couldn’t be farther from the truth.
Reconciling is important because it confirms that all the data that was entered is reconciled to the statement on a monthly basis. Downloading your data into QuickBooks from your banks is not a seamless process. Duplicates can occur and items can be missed entirely. There are posts online going back years of the public wanting Intuit to change this and add this functionality. I love Intuit and I use their products, but QuickBooks Self-Employed software completely missed the mark.