How do I stop getting a balance adjustment EVERY time I update my checking account?

USAA recently discontinued WebConnect. Now using Quickens One-Step update. But when I try to reconcile my checking account I get a balance adjustment EVERY time. Usually about $150 - $170. Sometimes positive sometimes negative. The setting to automatically add transactions to the register is NOT checked in preferences. Getting pretty perturbed and will start researching alternative programs.
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  • Zoolook
    Zoolook Member ✭✭✭
    Are you reconciling to the online balance, or to a statement.

    The only way this can happen is if the sum of transactions in the register does not equal the sum between the last opening balance and entered closing balance. If you're controlling the entry to the items in the register, then this is either an error in the manual transactions you have added, or in one of the balances (opening or closing). 

    If you're reconciling the statements, first off check whether the Starting/Prior balance is actually correct, against the last statement you had or the opening balance on the current statement. Errors can happen when previously reconciled items are changed or deleted, or you add an item manually and change the status to reconciled.

    Assuming that's correct, check every transaction Vs your statement one by one. If they're all correct then double check the closing balance.

    If the opening and closing balances are correct, and every transaction is accounted for and checked, then just make sure the register is in date order and you have no filters applied. It's pretty unlikely that Quicken isn't adding up correctly.

    I've never seen an error when reconciling to a monthly statement, but often the online balance is out of sync with the register balance, because of timing differences of when items cleared and this seems especially the case at weekends, when an item posts as clear on Friday in the register, but is still 'pending' at the bank because it missed a cutoff.

    If this isn't helpful, could you post more details about exactly how you're reconciling and how to 'plug' these differences.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    @lalexander21633 - This issue happens most frequently because of timing issues at the FI in how they download transactions and the online balance.  The USAA website says that the online balance that is downloaded is from the prior day's close of business.  But if a transaction has posted after that is downloaded with the previous day's ending balance then the downloaded online balance and the Quicken account balance will be out of sync.
    If you manually reconcile your account you would normally leave that new transaction marked as "C" and not change it to "R" until you do the next reconciliation.
    But if you let Quicken reconcile to the online balance and the online balance and Quicken balance do not match Quicken will pause the reconciliation process so you can decide what you want to do with it.  If you proceed by checking all the transactions showing in the reconciliation pop-up Quicken will then mark them all as "R" but will also attempt to correct for the balance issue by entering a balance adjustment in your register.  Then the next time you run OSU and get a new online balance which does include the impact of that transaction, that previous balance adjustment will cause Quicken once again to not match with the new online balance.  So once again Quicken will want to enter another balance adjustment to compensate for the first one.
    I have 20 FIs that I allow Quicken to reconcile to the online balance.  4 of these FIs will sometimes cause this issue for me.  I have learned that when Quicken can't reconcile the account without my intervention I will simply cancel the reconciliation process so I don't get those balance adjustments put into my register.  Then I will run OSU, again, after the next FI close of business which usually gets everything back into sync and Quicken can then complete the reconciliation to online balance without putting in that balance adjustment.
    You might want to consider doing the same thing that I do.  It's not ideal but it does eliminate those nagging balance adjustments.  The other option is to not let Quicken reconcile your account to the online balance.
    FYI, this is not a Quicken issue.  If you decide to go with an alternative program and if the USAA downloads to them in the same manner as it does to Quicken, you will likely experience the very same balance issue with it, too.
    (QW Premier Subscription: R33.24 on Windows 10)
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