I am a new user and I am having trouble reconciling bank accounts to Quicken balances.

I am a new user and I am having trouble reconciling bank accounts to Quicken balances. Since I am a new user, I am still keeping my spreadsheets in conjunction with Quicken. My spreadsheets balance to the penny but the Quicken balances are off by Thousands. I have assumed the problem might be with my beginning balances, but I have adjusted the beginning balance a couple of times and yet it still seems to be wrong

Best Answer


  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited May 2019
    if you are adjusting your opening balance this means that the problem is because of past transactions outside your current reconciliation period. You have to review those to identify what is wrong there... deleted transaction that was already reconciled, either directly or by removing one side of a transfer transaction, reconciliation flag changed on a transaction, changed amount in an already reconciled transaction, etc.
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  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    How are you entering transactions into Quicken - online downloads or manul ?
    What kind of account is this - Checking or some kind of Investment ?
    Also - have all the transactions been marked as "C" cleared ?
    Do you have any Pending transactions that have not Cleared as yet.
    If these are checking accounts -
    you will see THREE balances at the bottom - all different balances -

    QWin Deluxe Subscription - Win10
  • tad643
    tad643 Member
    Manual_Checking... So far, I haven't seen a method for noting as cleared or pending
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    What version of Quicken ?
    and why not make use of the online One Step Update to download and keep track of your checking transactions ?
    QWin Deluxe Subscription - Win10
  • tad643
    tad643 Member
    I guess I don't trust it completely yet...that's why I am still keeping spreadsheets :)
  • tad643
    tad643 Member
    I am using Version R18.16...Build

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    You enter the transactions - either DEP or EXP - don't know your logistics...
    - do you make entries from your bank statement, bank online website, or writing check ?
    - same for any deposits - how and when do you manually enter them ?
    - next - marking them as "cleared" or posted to the account - how / when ?
    - lastly - doing the Reconcile -
    clicking the "gear" --> Reconcile ---> what to balance against (paper or online)
    --> : shows all transactions  --> and cash balance should be ZERO
    Here is a snip of some checking account entries... notice the "R" - "C" - or "blank"

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