Credit Card Reconciliation

wings9798

10+ Years of Quicken reconciliations and can't fix this out of balance

wings9798

Can't fix this, Below is my credit card statement and the Quicken register.

wings9798

The charges in Q 3540.30 match the statement. Payments credits 5842.06 match. Any help would be appreciated.

wings9798

I've been using Quicken since 2005. Reconciled 100's of accounts. Today I can't figure out what is going wrong. My starting balance on my credit card statements are correct. The charges in quicken match what show as charges on the statement. Payments & credits match too. The difference of $27.75 doesn't show up anywhere. The only charge was at chick fil a in 2018. Do I just accept the $27.75 line item misc charge to balance and move on with my life or is this an easy fix some how. I manually added everything up and it's correct, quicken just seems to not do the math correctly.

GeoffG

Have you validated your file lately? If not, I would suggest that as a first step to troubleshoot. I would also recommend not fudging the number. Something is not correct, it's just a matter of finding it. First validate the file.

q_lurker

See also @wings9798 post here -same issue
https://community.quicken.com/discussion/7881851/credit-card-reconciliation#latest

That post has now been merged into this post.

Boatnmaniac

q_lurker said:

See also @wings9798 post here -same issue
https://community.quicken.com/discussion/7881851/credit-card-reconciliation#latest

I've flagged these two post threads for merging.

Boatnmaniac

@wings9798 - You might want to pull up a Banking Transactions report.  Customize it (click on the upper right Gear icon in the report) to include only this CC account (on the Accounts tab) and on the Advanced tab uncheck Newly Cleared and Reconciled.  Then click Show Report.  Do you see any uncleared transactions in the report?

Also, do you download your transactions or do you manually enter them?

q_lurker

I take it you are saying that there was one transaction from 2018 for 27.75.  I assume that is showing as a reconciled transaction.  You may want to try deleting and re-entering that transaction.  

You may also want to review these two FAQ posts:
https://community.quicken.com/discussion/7164953/faq-how-does-quicken-determine-which-transactions-qualify-for-a-reconcile#latest
https://community.quicken.com/discussion/7466917/article-how-reconciling-works-in-quicken-for-windows#latest

wings9798

> @GeoffG said:
> Have you validated your file lately? If not, I would suggest that as a first step to troubleshoot. I would also recommend not fudging the number. Something is not correct, it's just a matter of finding it. First validate the file.

Yes I did that today. Lots of issues, but that didn't fix the issue.

wings9798

> @Boatnmaniac said:
> @wings9798 - You might want to pull up a Banking Transactions report.  Customize it (click on the upper right Gear icon in the report) to include only this CC account (on the Accounts tab) and on the Advanced tab uncheck Newly Cleared and Reconciled.  Then click Show Report.  Do you see any uncleared transactions in the report?Also, do you download your transactions or do you manually enter them?

I did this as well and there are a lot of uncleared transactions as the credit card statement ended 13Sep and I have charges after it.

wings9798

> @wings9798 said:
> > @Boatnmaniac said:
> > @wings9798 - You might want to pull up a Banking Transactions report.  Customize it (click on the upper right Gear icon in the report) to include only this CC account (on the Accounts tab) and on the Advanced tab uncheck Newly Cleared and Reconciled.  Then click Show Report.  Do you see any uncleared transactions in the report?Also, do you download your transactions or do you manually enter them?
>
> I did this as well and there are a lot of uncleared transactions as the credit card statement ended 13Sep and I have charges after it. I manually enter my transactions as of April.

wings9798

> @q_lurker said:
> I take it you are saying that there was one transaction from 2018 for 27.75.  I assume that is showing as a reconciled transaction.  You may want to try deleting and re-entering that transaction.  
>
> You may also want to review these two FAQ posts:
> https://community.quicken.com/discussion/7164953/faq-how-does-quicken-determine-which-transactions-qualify-for-a-reconcile#latest
> https://community.quicken.com/discussion/7466917/article-how-reconciling-works-in-quicken-for-windows#latest

I deleted the $27.75 transaction, then it shows off by $55.50. When I add it back it now shows out of balance by the same.

Boatnmaniac

wings9798 said:

> @Boatnmaniac said:
> @wings9798 - You might want to pull up a Banking Transactions report.  Customize it (click on the upper right Gear icon in the report) to include only this CC account (on the Accounts tab) and on the Advanced tab uncheck Newly Cleared and Reconciled.  Then click Show Report.  Do you see any uncleared transactions in the report?Also, do you download your transactions or do you manually enter them?

I did this as well and there are a lot of uncleared transactions as the credit card statement ended 13Sep and I have charges after it.

Since your reconciliation is to the 13 Sep statement, then normally we wouldn't pay any attention to transactions that occurred after that.  But since you manually enter transactions you should in the off chance that an incorrect transaction date was entered.

Or, was there an uncleared transaction for $27.75 or multiple uncleared transactions that total up to $27.75 in the report prior to your 13 Sep statement?  If so, mark it as cleared and then try to reconcile your account. 

If none of these issues are found then it appears there might be a $27.75 transaction or some combination of transactions totaling up to $27.75 missing from your register.  One of the drawbacks with manual entry of transactions is that it is surprisingly easy to forget to enter transactions or to lose transaction receipts or to make a typo when entering them. 

Since it's a relatively small dollar amount I would simply enter a misc expense transaction to get the account into balance with the statement.  Then see what happens when you get your next statement and try to reconcile it.  If it all reconciles OK with the next statement then you can probably chalk it up to a mea culpa moment and forget about it.  But if there is another reconciliation issue with the next statement then post back here because it would indicate that perhaps there is a bigger issue that needs to be investigated.

wings9798

I spent some more time today. I pulled a back up file from July and compared YTD to Jul 1 from the backup and from this file. all the transactions matched. Only thing I can think of is that somehow I maybe deleted some charges. Since 2005 I've been able to reconcile every statement. Even though its manual. Either I deleted a transaction or Quicken messed up. Hopefully it shows up on my next credit card statement. We'll find out next week as it closes on the 13th.

Boatnmaniac

@wings9798 - How did the reconciliation go this month?