Reconciliation Problem - Credit Card Account

operaflute
operaflute Member ✭✭
I'm reconciling a credit card statement and having a problem:

From statement:
Opening balance = $1084.50
Credits/Payments = $1104.39
New purchases $1642.96
New Balance = #1623.07

From quicken reconciliation window:
Cleared purchases = $1642.96 (same as statement, also the same number of transactions)
Cleared payments/credits = $1104.39 (same as statement, also same number of transactions)
So why does Quicken think new balance should be $2051.42? (The only way I can zero it out is to enter a false payment of $428.35.)
The account balanced the month before.

Where am I (or Quicken) going wrong? (I do have Quicken frequently add in random transactions - with dates several years in the past - that don't actually exist, which I have to go back and delete, but this doesn't seem to be he case this time)
I've been balancing monthly for over a decade without problems, but can't figure this one out.
Validating file does not change things.
(Quicken Deluxe 2019 for Windows)
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Comments

  • splasher
    splasher SuperUser ✭✭✭✭
    Not a solution, but a suggestion for the future.
    Only enter values for the Date and New Balance, enter $0 for purchases and payments.  It will save you some time and entering the purchase and payment amounts has no affect on the process.
    -splasher  using Q since 1996 -  Subscription  -  Win10
    -also older versions as needed for testing
    -Questions? Check out the  Quicken Windows FAQ list
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    I suggest you compare the running balance of the registers against the running balance of the registers using a data file backup you saved after a recent reconcile.

    To access a data file backup, you would select File > Backup and Restore > Restore from Backup File....  After you select the data file backup to be restored, you'll be offered the ability to choose Create a copy which will allow you to access the old file without overwriting the current data file.  

    There are a variety of ways to compare the account registers.  The approach I use is to print the sorted account registers to text files (open an account, press Ctrl + P, set the date range, select Print, and choose Export to: and select Text file and Export).  I then use a text file comparison tool to quickly locate the differences between the files.

    It is important to verify the registers are sorted appropriately and there aren’t any unexpected filters being applied:  select the Date column header (you want the small triangle to right of Date to point up) and Reset.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    In that account:
    • Did you manually change the CLR status of any transactions?  Especially problematic is changing an "R" to anything else, or changing anything else to a "R".
    • Did you DELETE a transaction that had the "R:?
    • Did you DELETE a transaction in another account that was a Transfer to this account ... and had an "R" in this account?
    • Did you change the amount of any transaction that had the "R"?
    Each/any of those actions will cause subsequent reconciliations to be off.

    ALSO, when a reconciliation is off, pull out your old statements and work backwards in your Q account register to find the DATE and AMOUNT where the statement and Q agree.
    THEN, UN-reconcile everything after that point, and re-reconcile the account month-by-month.  Once the error is detected, subsequent reconciles (back to the present) will be quite fast (maybe 30 seconds each), unless there's another error.
    Trying to reconcile the whole thing, at once, will basically leave you in the same situation that you're currently in.

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • operaflute
    operaflute Member ✭✭
    Turns out Quicken replicated a transaction from Oct of 2016. Maddening.
  • splasher
    splasher SuperUser ✭✭✭✭
    Turns out Quicken replicated a transaction from Oct of 2016. Maddening.
    Glad you found the issue.  Things that far back are difficult to find.
    -splasher  using Q since 1996 -  Subscription  -  Win10
    -also older versions as needed for testing
    -Questions? Check out the  Quicken Windows FAQ list
  • operaflute
    operaflute Member ✭✭
    Quicken has always added bizarre charges that I must delete when reconciling. (They appear in the reconciliation window, and often have dates many years in the past.) The "new and improved version" of this error is that now Quicken is RECONCILING the strange duplications, so they no longer appear in the reconciliation window. (It happened again this month, but erroneous transacion was dated within he reconciliation period, so it was easy to find.)
    Quicken needs TO FIX THIS PROBLEM, not make it worse!
  • splasher
    splasher SuperUser ✭✭✭✭
    If it is duplicating them, it is making copies of the original, if it is reconciled, then the copy would be reconciled.
    The real issue is that it is making duplicates in your file, something that is not happening in mine.
    You state that validation did not help, have you tried a "super validate"?
    Hold down the CTRL+SHIFT keys when clicking on Validate & Repair on the File menu.
    I'm curious, do you have Quicken automatically enter the downloaded transactions during the import of transactions?  It could be that the data feed is causing the duplicates (at least the recent ones).
    -splasher  using Q since 1996 -  Subscription  -  Win10
    -also older versions as needed for testing
    -Questions? Check out the  Quicken Windows FAQ list
  • operaflute
    operaflute Member ✭✭
    Good point about duplication regarding whether or not it is reconciled. In any case, unreconciled mystery transactions do appear frequently. Not sure how they are happening. I just delete when I confirm it's erroneous. In any case, this two instances are the first time *reconciled* erroneous transactions have appeared. (Much harder to find!)
    Have not tried "super validate." I will next time.
    I review the downloaded transactions before I allow them to be entered.
  • splasher
    splasher SuperUser ✭✭✭✭

    I review the downloaded transactions before I allow them to be entered.
    Good to hear, expecting Quicken to run on auto-pilot and never make a mistake is a mistake since you never know when the financial institution/service provider will mess up the data feed, something that Quicken has no control over.
    -splasher  using Q since 1996 -  Subscription  -  Win10
    -also older versions as needed for testing
    -Questions? Check out the  Quicken Windows FAQ list
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