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Adjustments are not posting to bank reconciliation

Just got Quicken subscription, I had been using a very old version of Quicken > 10 years old.. I'm doing my first bank rec. As always I have a couple of adjustments that I post to the register. On my older than dirt version any adjustments I posted automatically carried through to the bank rec. But that's not happening now with this new version. And of course the reconciliation....uh, doesn't.

What gifs, captain?

Best Answer

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Accepted Answer
    But there's no reason the bank balance can't be reconciled to a date AFTER the bank statement date. 

    I don't understand what is stopping you from doing that.  While the window prompts for "Ending Statement Date", there is nothing to prevent you from entering a later date.  You just also need corresponding "Ending Balance".  

    Yes, some years the reconcile window would display transactions dated after the "Ending Statement Date" but that display confused users enough that the program was modified to not do that.  No "either way" option was created.

Answers

  • Hello @Blue44

    Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. In this case I think it'd help to have a photo that'll show what exactly is happening. It'll give us a better idea of what we're looking for. I'll leave a link down below on how to screenshot as well.

    https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows#latest

    Note you may need to drag the photos into the response box. 

    Once you get the chance to upload photos just let us know and we'll take a look.

    Thanks,

    Quicken Francisco


  • Blue44
    Blue44 Member
    I don't believe a screen shot will help. The problem is simple:

    Why doesn't the account reconciliation feature allow checks to be included in the reconciliation that are written *after* the bank statement date? By not including those checks the bank rec only allows a reconciliation to the bank statement balance.

    The old pre-2010 Quicken I was using before *did* allow checks written after the bank statement date to be included. All of those checks after the bank statement date would be treated as outstanding and would typically clear the next month. But the bank account would be reconciled to the date of the reconciliation (for example, 10 days after the bank statement date) as any good reconciliation process does.

    The problem I have now is that because the previous Quicken version worked properly, the last reconciliation I uploaded was prepared under a different set of rules than the new one. As a result the first reconciliation I am doing with this new version I just bought won't reconcile--I am mixing apples with oranges.

    I am hoping there is a choice someplace in the program to allow checks and adjustments to be entered and reconciled up to the date the reconciliation is prepared.

    If you are an accountant Francisco, you understand what I am saying. If not please forward this issue to someone with an accounting background.

    Thank you.
    Blue44
  • Blue44
    Blue44 Member
    I take it everyone is good with the way the bank rec feature works in the current version of Quicken?
  • JRV
    JRV Member
    I am seems to have a problem an accountant and Quicken reconciliation between Dec 2020 and Jan 2021. i seem to be out of balance because the cleared balance is too high. taking Dec 2020balance, add Jan 2021 income less Jan 2021 cleared checks, gets me my bank statement balance but Quicken says i am out of balance, by looks like Feb 2021 activity.
  • Blue44
    Blue44 Member
    I have to admit, I'm surprised there's no solution to this question. Reconciling a bank statement is about as basic a bookkeeping exercise as there is. Apparently my friend Francisco has no idea.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
      Why doesn't the account reconciliation feature allow checks to be included in the reconciliation that are written *after* the bank statement date? By not including those checks the bank rec only allows a reconciliation to the bank statement balance.

    Because it is not possible for transactions dated AFTER the statement date to affect the statement balance.  If you happen to know the bank’s balance on any particular date, you can certainly reconcile your Quicken data to that date and balance. 

    Lighten up on the attitude. You’ll get farther around here. 

  • Blue44
    Blue44 Member
    Attitude can go both ways, no? :)

    Of course nothing affects the statement balance. But there's no reason the bank balance can't be reconciled to a date AFTER the bank statement date. Adjustments needed to reconcile naturally happen at a later date. The older version I used for so long allowed that. Clearly Quicken changed it. I was hoping there might be something I could toggle that would return it to the way it had been.

    Nonetheless, I appreciate your response. Be well.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Accepted Answer
    But there's no reason the bank balance can't be reconciled to a date AFTER the bank statement date. 

    I don't understand what is stopping you from doing that.  While the window prompts for "Ending Statement Date", there is nothing to prevent you from entering a later date.  You just also need corresponding "Ending Balance".  

    Yes, some years the reconcile window would display transactions dated after the "Ending Statement Date" but that display confused users enough that the program was modified to not do that.  No "either way" option was created.

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    To reconcile is to "Compare".  You're comparing the ending balance on your bank statement, as of a certain date, to your Q records as of that same date.
    If it's not on the statement, it's not part of the reconciliation.
    NOW, you can always get a different current balance, and a different ending date from you bank's website... but that STILL won't include Q transactions after that date.
    OR, stated differently, you can't reconcile the future ... only the past.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Blue44
    Blue44 Member
    Thanks for the reponses. My thick brain is getting it.

    q_lurker you nailed it. Thanks for the date change tip. Moving that date forward to the most recent entry in the check register will take care of my issue.

    NotaCPA, yes, you are correct, you can't reconcile the future but you can reconcile to the most recent entry on the check register up to the current date (by definition the most recent entry is in the past; future entries have no effect).

    I prefer reconciling to the most recent entry so as not to change past register balances when I make an adjustment to a past entry.
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