some register balances not matching bank balances after reconciliation

I'm very grateful for everybody that told me about reconciling in Quicken. I had finally got the hang of it and reconciled 8/18 to 1/19. I started to finish the remaining 3 months tonight when I noticed that only about one of the Reconciliation Summary reports showed an ending bank balance that matched my Quicken register balance. And even in that report the register ending balance doesn't match my Quicken register balance! Plus, Quicken indicated that each of those months reconciled perfectly before I did the Reconciliation Summary reports for each one. The offending check that never cleared the bank and caused all of this is still listed in my Quicken register as uncleared. I was going to balance the remaining 3 months and then void or delete the check. I'm a little confused as to whether I have made ANY progress!
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  • SherlockSherlock SuperUser ✭✭✭✭✭
    In a Reconciliation report, the Ending Balance of Bank Statement is the total of the transactions marked as Reconciled in the register and the Register Ending Balance is the Ending Balance of the register.  I think you are making progress but have confused yourself by generating these Reconciliation reports.
    Quicken user since 1997 
    Premier on Windows 7 
  • But isn't that the very definition of balancing, or reconciling, an account? If the Ending Balance of Bank Statement doesn't match the Register Ending Balance isn't the account still unbalanced? With my old way of reconciling I always ended the process by matching the Ending Balance of Bank Statement to the Register Ending Balance. I've attached a sample form that I used for reconciling the account.
  • SherlockSherlock SuperUser ✭✭✭✭✭
    But isn't that the very definition of balancing, or reconciling, an account? If the Ending Balance of Bank Statement doesn't match the Register Ending Balance isn't the account still unbalanced? With my old way of reconciling I always ended the process by matching the Ending Balance of Bank Statement to the Register Ending Balance. I've attached a sample form that I used for reconciling the account.
    No and no.

    The Ending Balance of Bank Statement  may not match the Register Ending Balance when there are transactions outstanding.  

    In the sample form you provided, the Ending Balance-Bank Statement does not match the Ending Balance-Register.

    Quicken user since 1997 
    Premier on Windows 7 
  • NotACPANotACPA SuperUser ✭✭✭✭✭
    To "Reconcile" is to Compare.  You're comparing the transactions shown on the bank statement to those in your Q account register and marking the ones that match as "Reconciled".
    After this process, there may be transactions that you recorded in Q that are prior to the bank statement date (but haven't reached your bank yet) AND/OR future dated transactions that you've recorded in Q.  Either of these 2 conditions, will result in your Ending Balance, in Q, being different than the Statement's Ending/Closing balance.
    Q user since DOS version 5
    Now running Quicken Windows Subscription
    Retired "Certified Information Systems Auditor"
  • In the sample form I provided the Total Adj. Bank Balance does match the Ending Balance-Register. The whole purpose of balancing an account is to adjust for outstanding checks, credits, etc. so you can match your register's balance with the bank's. Thus you know what you've got. But with Q's reconciliation you can have, as you noted, a difference in your records and those of the bank's. So what's the purpose of having inaccurate records?  

  • SherlockSherlock SuperUser ✭✭✭✭✭
    In the sample form I provided the Total Adj. Bank Balance does match the Ending Balance-Register. The whole purpose of balancing an account is to adjust for outstanding checks, credits, etc. so you can match your register's balance with the bank's. Thus you know what you've got. But with Q's reconciliation you can have, as you noted, a difference in your records and those of the bank's. So what's the purpose of having inaccurate records?  

    You still appear confused.  The information is the same.  

    If you have a difference in your records and those of the bank excluding transactions that are outstanding, you need to resolve the difference.  

    The transactions in Quicken are not inaccurate unless you have entered them inaccurately.

    Quicken user since 1997 
    Premier on Windows 7 
  • Don't quite get your point. What info are you saying is the same? Excluding outstanding transactions is not the proper way to balance an account. The transactions have not been entered inaccurately. The fact of the matter is that the ending bank balance doesn;t match myending register's balance, thus rendering the whole reconciliatiofeature totally useless. I also noticed on one of the summary reports that the ending bank balance doesn't even match the ending bank balance on the statement! 
  • SherlockSherlock SuperUser ✭✭✭✭✭
    All the information is the same.  You're only looking at it differently.  If you have reconciled the account to a bank statement the total of the transactions marked as Reconciled is the ending balance on the bank statement.  The remaining transactions are the outstanding transactions so the register's ending balance is the same as your sample's Total Adj. Bank Balance.

    Again, the ending bank balance doesn't necessarily match register's ending balance because the ending bank balance doesn't include the outstanding transactions.

    The Reconciliation feature is used to detect any difference between the bank's statement and the corresponding transactions in the register so that we may resolve the differences.  When we have successfully resolved the differences, the ending bank balance is the total of the transactions marked as Reconciled in the register.  This can easily be confirmed by sorting the register by the Clr column and examining the running balance.

    The Ending Balance of Bank Statement in a Reconciliation report is the total of the transactions marked as Reconciled in the register.  When you have successfully reconciled the account with a bank statement, the Ending Balance of Bank Statement  is the ending balance of the bank statement.  If subsequently, there is a difference then at least one Reconciled transaction has been added, removed, or modified since the register was successfully reconciled.

    Quicken user since 1997 
    Premier on Windows 7 
  • You can spin it any way you want but the fact remains that the purpose of balancing, or reconciling, or whatever you want to call it, is to get an accurate reading on what you have in the account. I even chatted with a Quicken rep last night and he wasn't able to explain why Q's reconciliation reports were inaccurate and totally useless. I'm going back to my former system. At least it works!
  • NotACPANotACPA SuperUser ✭✭✭✭✭
    " is to get an accurate reading on what you have in the account."
    NOT TRUE.
    I've already explained what the purpose of a Reconcile is ... but a Reconcile WILL NEVER AND CAN NEVER know what transactions you've issued that haven't yet cleared the bank. Nor can a Reconcile know of the future dated transactions that you've input into Q.

    Q user since DOS version 5
    Now running Quicken Windows Subscription
    Retired "Certified Information Systems Auditor"
  • SherlockSherlock SuperUser ✭✭✭✭✭
    You can spin it any way you want but the fact remains that the purpose of balancing, or reconciling, or whatever you want to call it, is to get an accurate reading on what you have in the account. I even chatted with a Quicken rep last night and he wasn't able to explain why Q's reconciliation reports were inaccurate and totally useless. I'm going back to my former system. At least it works!
    The Quicken Reconciliation reports are not inaccurate.  They just do not do what you think they do.  If you're more comfortable your former system, that's fine.  It is equivalent.
    Quicken user since 1997 
    Premier on Windows 7 
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