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

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.

Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    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).
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • Sheila
    Sheila Member ✭✭
    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
    Chris_QPW Member ✭✭✭✭
    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.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
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