Account balances not matching within Quicken screens

My account balance in my list of accounts does not match the online balance within the account? This has just started in the last 30 days and becomes a problem when i reconcile. It wants me to add an adjustment and when I do it throws the account balance within the account out of wack. Please HELP!!!!

Answers

  • colerb
    colerb Member
    I a having the same problem to the point I created a new Quicken file and downloaded 90 days of transactions. Everything matched then, but the next day two of my accounts were off by substantial amounts that I could not reconcile. Am I doing something wrong?
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited January 2020
    Depending upon the type of account - and the Register settings,
    you can have 3 different account balances displayed at the bottom
    - Online --> what the bank has
    - Current --> your Quicken balance as of today
    - Ending --> your Quicken balance including future transactions in the Register
    Of course credit cards or investment account would look very different.
    Quicken Subscription - Windows 10
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Note that the Online balance only includes what the bank knows.  If a check hasn't been cashed yet, the bank won't know about it. 
    SO, it would be included in your Current and Ending Balances ... but not the Online Balance.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • colerb
    colerb Member
    The only input is from the One Step Update. On one account I found that 3 transactions were not downloaded and added to the register.

    The other account I have not figured out yet. It is off by about 45%, the Current Balance does not match the Cleared Balance from my bank
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Reconcile your account, if necessary using printed reports from Quicken and printed bank statements, comparing and marking transactions side-by-side. Eliminate duplicate transactions, add missing transactions and fix any other incorrect entries.

    Also please make sure that the "Opening Balance" transaction in your register
    - always is the oldest transaction by Date
    - its amount matches the bank statement balance shown on that day
    - the transaction is marked "R"(reconciled) in the "Clr" column
    - occurs only once in your register
    - uses the same account name, surrounded by [square brackets], as Category as the account it's in (e.g., Opening Balance transaction in your MyChecking account has Category = [MyChecking]) *
    - if you owe money in a credit card account, the Opening Balance transaction as shown in the register must be a negative amount, e.g., $-123.45

    If the Opening Balance isn't correct, your register balance on any given day will never match the bank's balance on the same date.

    * that's called a "transfer back into the same account" and is OK. Quicken uses this method to establish the Opening Balance without making it appear as an Income or Expense in any views or reports.


Sign In or Register to comment.