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

tad643
tad643 Quicken Windows Other Member
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

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Answers

  • smayer97
    smayer97 Quicken Mac Other SuperUser ✭✭✭✭✭
    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 Quicken Windows Subscription Alumni ✭✭✭✭
    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 -


  • tad643
    tad643 Quicken Windows Other Member
    Manual_Checking... So far, I haven't seen a method for noting as cleared or pending
  • Ps56k2
    Ps56k2 Quicken Windows Subscription Alumni ✭✭✭✭
    What version of Quicken ?
    and why not make use of the online One Step Update to download and keep track of your checking transactions ?
  • tad643
    tad643 Quicken Windows Other Member
    I guess I don't trust it completely yet...that's why I am still keeping spreadsheets :)
  • tad643
    tad643 Quicken Windows Other Member
    I am using Version R18.16...Build 27.1.18.16

  • Ps56k2
    Ps56k2 Quicken Windows Subscription Alumni ✭✭✭✭
    Well......
    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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