Transaction dates incorrect?

Question

Hey everyone! I'm super new here so please forgive me if the answer to this one is obvious.

When I download / sync my transactions, the dates come out wrong, and frequently the balance in Quicken doesn't match the balance on my bank's website? Can anyone explain what's happening?

I've tried using one-step updates / online sync and I tried, with a fresh install, only using qfx files downloaded directly from my bank.

Any ideas or is there something I don't know about yet?

Thanks!

Sherlock · Accepted Answer

Regarding dates, there is a transaction date and a posting date.  The transaction date is the date we commit the transaction.  The posting date is the date the transaction clears the financial institution.  If you want to see the posting date obtained from the financial institution, add the Downloaded Posting Date to the columns viewed.  There is also a user modifiable posting date field used when reconciling an account.

Likewise, there are multiple balances. There is the current balance, the ending balance, the online balance, the running balance, ....  It is normal to have a current balance that does not match the online balance.  The online balance is the balance obtained from the financial institution at a specific time and may or may not include all of the transactions in the account register.  The online balance should include all the transactions posted at the financial institution but that does not reliably mean the same transactions have all been made available to Quicken.

If you haven't already, I suggest reviewing: https://community.quicken.com/discussion/7166077/faq-is-there-a-quicken-windows-faq-listing