Should you check every receipt on every statement?

eskbanker

pantaiema wrote: »

I just heck it when there is a good chance theere is mistakes. For intance hal price, bogof item

I found it they sometimes maka a mistake hwere the systme has not been updated ...

Not sure how you spot the mistakes, given that there are at least nine in your brief post!

Schoolworker

If I spend or take out cash I mark in a notebook. It ongoing. Wages go in and list all my standing orders and director debit so I know my current total even though some are not out of my account until later in the month and then note each transaction to keep a realistic balance. When statement comes in I do check off from my notebook and make sure it tallys . I keep my current receipts in a wee envelope in case needed and have a big a4 envelope for clothes or gift etc so I know which envelope to go to if needed. It works for me and does not take too long to do at statement. I have had a few fraus transavtion s on my credit card and have noticed this when doing my statement.

No_6

Check all my accounts at least twice a week,
some daily ! Am retired with more time to do things
Running 24 accounts takes at least a FEW !! minutes of my day.

6

[Deleted User]

I keep every receipt until I've seen it come out of my online accout, I hardly look at paper statements

bouncydog1

Every transaction recorded on a spreadsheet, linked to bank account spreadsheet so I know exactly what is being paid when. No paper statements either - all online and if you need to keep a record just download and save to a separate folder.

If you buy online and make returns this is a good way of ensuring you can chase up a refund.

sausage_time

In a word, yes. I have done it for years, and have a record of every account transaction going back to 1987! There are 47,366 transactions if you are interested, neatly divided into categories (Food, Bills, Hols, etc) so I can analyze trends over the years. I have found quite a few mistakes over the years, but for me the advantage is always knowing exactly where I stand and where it has all gone at the end of the month.

Ah, 1987. The days when you could go to a cash machine and take out a couple of quid - now that was a wild night out waiting to happen.

LittleMax

I thought I did alright checking statements each month for retailers I know and rough amounts. Every couple of months a strange name pops up and takes a little while to work out with OH what that spending was, particularly where the retailer processes the payment through a branch elsewhere in the country from where we were - but we always manage to work out.

But seeing what lengths everyone else goes to I started to feel inadequate. Then remembered that 30 years ago when I first had my credit card I did check against receipts religiously... not finding errors, at some point I then gradually stepped down to a level of diligence that I feel appropriate against the risk.

I don't need a written record to remember that in 1987 it was just shy of a tenner to fill my car with petrol

takman

I check my main accounts and main credit cards on a daily basis on my phone. This way I can easily remember what I spent and where that day to make sure it is correct. Other accounts I just check monthly and record their balances on a spreadsheet which are all savings accounts. I also use this spreadsheet to record all cash assets such as shares and investments.

I have considered adding to this and recording my monthly spend in various categories because it would be interesting to see accurate values for each. For example I do know my spend on restaurants and takeaways is very high compared to other people.

wolvoman

I check my online account every few days for my cards.




But keeping all the till receipts? No way. I probably have an average of 15-20 transactions a day - 600 receipts a month to store and sift through????


And what about contactless transactions? Some don't issue receipts, how do you folk handle those?