The amount of downloaded transactions doesn't match what's in account

Sheila

In my checking account details, on the Online Services tab (on Windows), "Reconcile using online balance" is selected. After I download transactions into that account and try to reconcile, Quicken often has to adjust the amount in the register . For example, it might adjust my balance by adding $1500. I click Finish Later when I see an amount that big. That doesn't help though. Eventually some amount has to be added to the account register.

If an amount needs to be added to the register in order to reconcile the account, does this mean that not all transactions are being downloaded?

I'm using Quicken Premier R32.10 build 27.1.32.10 on Windows 10.

I've only had this problem with this checking account at this credit union. I haven't had this problem with other accounts at the same bank.

Chris_QPW

Sheila said:

If an amount needs to be added to the register in order to reconcile the account, does this mean that not all transactions are being downloaded?

What it really means is that you aren't reconciling.  Reconciling is the process of making sure what you have in Quicken matches what your financial institution says it is (or prove the financial institution wrong, which almost never happens).  As in you find out what is different, and then at least you know what is going on.

Reconciling isn't bringing up the reconcile dialog and selecting Done (or in this case finish later).  And if you just have it add a balance adjustment later that just "giving up".

Why the reconcile fails, well that is a different subject that in fact no one can answer for sure because we don't have the needed information.  We can't see your register/transactions and such.

But here are a few possible sources of problems.

1. The "Cleared Balance" is wrong.  The cleared balance is calculated by all the reconciled and cleared transactions before the "statement ending date".  This means that if at any time any or the old reconciled transactions get change in any way this number will be off.
2. The "Statement  ending(online) balance" is wrong.  If you are reconciling to the online balance this balance (and so does the date) comes from that download and it is possible that it is wrong.  For instance they could be including pending transactions in the download, but not include them in the online balance.  Clearly if you doing it manually it is what you entered.  To see both the ending balance and date select the Balances button.
3. The "Statement ending(online) date" is wrong.  Therefore including/excluding transactions that shouldn't be in this reconcile.
4. Extra/missing/changed transactions.
5. Transactions not marked cleared (should show in the reconcile windows, but you might have to select them).

Sheila

I don't just bring up the reconcile dialog and click Done. If any transactions need to be selected, I select them. However, all transactions are always selected.

I've been using Quicken for over a decade. This hasn't happened with any other bank. I'm thinking that #2 that you wrote about is true.

Chris_QPW

If it is #2 then if the account setup is for Direct Connect then it is the financial institution that will have to fix it.  If it is Express Web Connect then it could be either on Intuit's servers (Quicken Inc pays Intuit for the service) or the financial institution.
You would have to contact Quicken support about tracking that down and fixing it.
Contact Quicken Support

In the meantime you can reconcile to the "statement balance" instead of the online balance.  Even though it is stated as "statement" you can look up the balance on your financial institution's website can reconcile to that.

Jerry_

Sheila, I had a similar problem with Chase. For a few days, the online balance did not match the total of the downloaded transactions. It appeared that there was a time lag between downloading the transactions and the balance being updated; due to the fault of the Bank.

What happens if you;
1' Choose Finish Later  in the Reconcile Window.
2. Close the Reconcile Window.
3. In your Account Register Screen, choose from the pulldown menu when selecting the Gear Icon in the upper right of the Screen, the Update Now Menu Item. This action should download the latest online balance.

Does this re-adjust the online balance for you? Does the Reconcile Window now show the difference of zero ?

Sheila

Thank you for the suggestion but that didn't work.

UKR

How about not using "Reconcile to online balance"?

How about getting rid of any recorded Balance Adjustment transactions?
How about making sure that the register's Opening Balance transaction matches the bank balance on that day?

And how about manually reconciling your register once a month, comparing to the bank's monthly statement?
That's what I'm doing and it has been working quite nicely for me for many years.
Of course, you may have to go back in your register several months, until you find a month where the bank's Statement Ending Balance matches with a transaction in your register on the same date, then re-reconcile going forward, reviewing all transactions and working out the discrepancies, until your register matches the most recent bank statement Ending Balance, e.g., balance on 3/31. At the end of this month reconcile again using the bank statement, and so on.

Jerry_

Don't give up the ship just yet. (grin) Just try one more suggestion.

I want to mention a step that I utilize in helping the Auto Reconciling Procedure from time to time.  Here is what I do:

1. Go to your affected account, and temporarily add a Column by the name of Downloaded Posting Date.  - (Select the Gear Icon to the far right in the account header, select the Register Columns menu entry, and checkmark the Downloaded Posting Date Entry).

2.If any of your transactions do show a Downloaded Posting Date. scroll over to your Ctr (Cleared) Column, and enter a "R" (reconciled) to show the transaction as being reconciled. Update the transaction. (If the Ctr Column is missing, apply the above step utilized in adding the Downloaded Posting Date. to add the Ctr (Cleared) Column, 

3. Utilize the steps in #1 to remove the Downloaded Posting Date column; if so desired. I would leave the Ctr Column present on the Account Screen.

If you have found downloaded posting dates, and have marked the affected transactions by the above mentioned steps, future auto reconciliation should be no problem for the affected Account. At least, the procedure created no problems for me. I hope it works for you.