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OnLine account reconciling "cleared balance" issue

Quicken 2020 R27.24 Build 27.1.27.24

Menards capital One card does not download transactions without asking for a daily one time code. So I stopped the downloads and manually enter the purchases & payments/credits.

I get a failure on reconciling after I verified each purchase & credit. You can see it attached.

The payments total correctly. However, if you add the charges you get a total of $409.06 that is shown not the cleared balance of $682.86.

All prior transactions to this cycle are "R".

Why is the cleared balance incorrect and how do I fix it?

Best Answer

  • John_L
    John_L Member ✭✭
    Accepted Answer
    I found the issue. Since I no longer can download from Menards-Capital One to quicken, I manually enter the transactions ( a pain). I missed the last reconciled statement "payment" that resulted in a zero balance.
    I then entered this payment and it balanced.
    I wish they would get the download working again w/o the one time code email each time.

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    If the reconciled opening balance has changed, a reconciled transaction has been added, modified, or deleted.  To determine the source of the change, I suggest you compare the running balance of the account register in the current datafile with the running balance of the account register from a datafile backup saved when the account was last reconciled.  One way to accomplish this is to print the registers to text files.

  • John_L
    John_L Member ✭✭
    Accepted Answer
    I found the issue. Since I no longer can download from Menards-Capital One to quicken, I manually enter the transactions ( a pain). I missed the last reconciled statement "payment" that resulted in a zero balance.
    I then entered this payment and it balanced.
    I wish they would get the download working again w/o the one time code email each time.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    John_L said:
    I found the issue. Since I no longer can download from Menards-Capital One to quicken, I manually enter the transactions ( a pain). I missed the last reconciled statement "payment" that resulted in a zero balance.
    I then entered this payment and it balanced.
    I wish they would get the download working again w/o the one time code email each time.

    How do you enter the credit card payment transaction in Quicken?
    Correctly entered, this would be recorded as a transfer from your Checking account to [Menards...] (the name of the credit card register enclosed in [square brackets])
    A correctly recorded transfer transaction in one account will automatically make a linked transaction appear in the [Transfer-to] account, thus avoiding your missed payment transaction situation.
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