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Reconcile issues - positive value when it should be a negative value

Home and business On Line - ver 16.22
when i reconcile my account which has a negative balance, and it agrees with my online bank balance (which is negative also), when i reconcile the quicken balance shows it as a positive value.....National Bank
see attached

Its been working fine for the last 10 years, now all of a sudden for the last few weeks......

it should be a 0 balance,

Comments

  • Quicken Sarah
    Quicken Sarah Administrator, Moderator mod
    Hello @eggs700

    Thank you for taking the time to report this issue to the Community, although I apologize that you have not yet received a response.

    If you are still experiencing issues with reconciling the account and haven't already, please visit https://www.quicken.com/support/reconciling-account-quicken-windows & https://www.quicken.com/support/correct-difference-account-if-it-does-not-reconcile and let us know if the information helps to resolve the discrepancy.

    Thank you,

    Sarah
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    I'm a bit confused.  WHAT balances (where seen) are negative?  And what balance (where seen) is $0.  I don't understand how an account can be both negative and 0.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • eggs700
    eggs700 Member ✭✭
    NotACPA.....have a look at the screenshot above, cleared balance and statement ending balance. Statement is correct at a negative number, however my actual account balance (from my acount in quicken) shows a negative balance also, but when i reconcile it shows positive....
    They should both be negative, hence a difference of 0......
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Ummm ... I'm confused.
    Are Canadian Chequing accounts allowed to go to a negative balance?
    And is that account defined as Account Type = Chequing?
    The image you provided looks like you are reconciling a Credit Card account, yet the account name is "... Chequing".
    When reconciling a Credit Card account, when you owe money, you enter the Statement Ending Balance as an unsigned (positive) number: 1234.56 if you owe -1234.56
    Only when the account is overpaid would you enter the amount the bank owes you as a negative number, -12.34 if the bank owes you 12.34 (usually shown as "12.34 CR" on the statement)
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    In a number of countries, loans are recorded as an Overdraft in one's checking account.  A friend of mine in the UK had a several hundred thousand pound overdraft ... that represented their mortgage.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • eggs700
    eggs700 Member ✭✭
    UKR
    It was set up as a credit card account just to reflect a negative number when I purchased something with this account as it is a line of credit account.

    It is a line of credit account that has chequing privileges. It is not a positive balance, as I have borrowed against the account, so when I look online on the bank website, it shows a negative balance. Which is why the "statement ending balance" shows -13ishK. that one makes sense.
    My quicken account shows the same, a -13ishK balance.
    Its only when I reconcile that the "Cleared Balance" shows a +13ishK balance, and the difference shows double the amount as a + value (+27ishK)
    This has only been in the last few months that this Cleared amount shows a positive balance.

    I have been using quicken for years and have changed nothing, downloading all transactions and balancing to the online amount. it has never been a problem, reconciling, balancing to 0.

    I see your point about the Credit card versus chequing though...

    perplexed
  • Karen E Snow
    Karen E Snow Member ✭✭
    I am having this same problem as eggs700 when President's choice Mastercard started allowing the download once again of it's qfx file.
    Also using qucken deluxe v16.22 build 27.1.16.22
    If I balance it and accept the adj which is wrong as it is 2X amount of the charges to the account being reconsiled, my balance is all wrong in Quicken. If I delete the adjustment to correct the balance, then when doing the next reconcile with online balance, it makes the same error all over again. Very frustrating.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Please remember: When you manually Reconcile a credit card account, as confusing as it may sound, you need to enter the statement ending balance
    - as an unsigned positive number if you owe money on the account
    - as a negative number if the account is overpaid and the bank owes you money (may show as $123.00 CR on the credit card statement)
    That's been done so by the programmers, I assume, because the amount owed by you on the credit card statement never is shown as a negative number and they wanted to make it easy for you ...
This discussion has been closed.