I don't trust their reports. Trust me, you really have to double check their calculations for wash sale calculations. And, if you trade the same stock using different brokers, there is no way for them to calculate for wash sales.
I am talking about the capital gains report here. I have seen errors on my report provided by ameritrade but I think it's really a freebie from gainskeeper. Maybe it's a trial thing. Not sure if I would get a correct one if I pay gainskeeper. In terms of statements. I have seen errors on my transaction history not matching up with my statement. I had to talk to support to clear up the problem. But it's no biggy. But you really should check your statement. Someone I know had $10K taken out from his bank account (not brokerage). It turns out that the bank clerk made a typo on the account number. Scare the crap out of him when he read his bank statement. But luckily he did, on a timely manner and he was able to recover the loss. But if it's a smaller amount, he might not have noticed because no one checks their statement line by line. From now on, I will!
I know what my daily P/L should be, and I believe I will notice if it is very far off. I don't currently track smaller amounts, and I will probably start doing that if I switch to unbundled commissions. I check my monthly and yearly statements against the daily. I reconcile my bank statements, though the last time I saw a bank error was over 30 years ago.
Keep checking your statements. Brokerage, bank, credit card, even your utility bill Errors don't occur often. But when they hit, they hit your hard! Read this (179K gone from 401K account): http://redtape.msnbc.com/2007/01/one_moment_dave.html In the past, I never looked at my 401K account. I even shed my 401K statements without opening them. I could imagine problems with credit card and bank accounts, but 40K? Well, from now on, I will be watching my money like a hawk, no matter where I had them.
I use Scottrade to trade daily and import the data directly form Scottrade into TradeMax for monitoring its performance. If any errors occurred, I will find them during the process of importing, since TradeMax will auto-scan..