Difference when Reconciling

System

This discussion was created from comments split from: Credit Card Reconciliation.

janes

I have much the same problem. I am using Quicken Deluxe 2020 R30.10 Build 27.1.30.10. I am reconciling my credit card statement. The Charges are the same as the Statement and are checked; the Payment and other Credits are the same as the Statement and are checked off. Nonetheless, I am showing a $5013.47 Difference.

Chris_QPW

Well it is important to understand what the "Cleared Balance" is.  It is the total off all the transactions in your register that are either reconciled or cleared.  So if the charges and the credits are the same as your statement then the problem is before the date range of this reconcile.  For instance if a past transaction(s) got changed, deleted or added.

Note one other thing it can be that is pretty rare is if you have a reconciled transaction in the future.  For whatever reason Quicken includes those in the total too.

The first thing I would do is check if your last reconcile is in fact correct any more.
As in look at the balance on the last transaction marked with an R, that should be the same balance as in your last statement, and actually it should be the opening balance for this current statement.  If not something has changed in your previous transactions.

Chris_QPW

On checking the last reconciled balance.  Someone in another thread pointed out that it isn't as simple as looking at the balance because you have to take into account any transactions that didn't clear before the reconcile.  But that shouldn't be too many and you can just subtract them from the balance on the last reconciled transaction.