Opening balance is wrong

dianehofer

Reconciling my paper statement to quicken. Quicken has the WRONG amount for my opening balance. Quicken is WRONG, because I inadvertently changed an entry that was previously reconciled. The only 'fix' is to adjust my balance to match quicken. But this adds $12000 to my account that I don't really have!?! How to change quicken to match the statement?? because the statement is correct.

The Keeper

The closing balance from last month's reconciliation is the opening balance for your next reconciliation. If the opening balance is incorrect then change the opening balance number. Quicken can record an adjustment transaction in your register balance to make it agree with the bank's balance. 

Here is some additional information:

https://www.quicken.com/support/correct-difference-account-if-it-does-not-reconcile

Tom Young

The Opening Balance for a reconciliation is calculated each time you go to do a reconciliation.  So if you " inadvertently changed an entry that was previously reconciled" the obvious fix is to go back to that entry and undo that inadvertent change.  That should bring the opening balance back to whatever number it was previously.

aksonya

[Removed-Rant/Speculation]
a. I haven't taken the time to look up this issue until today.
b. I have taken the time to research for myself to figure out what might be happening.

1. For a long time I thought it was me but now I am confident that it is an issue is with Quicken.
2. I enter my entries manually and then start my reconciliation.
3. The last few months I made sure everything was reconciled correctly when I was done.
a. side note I would really like the monthly balance report back.
4. Then mid month I do a mini recon. and everything balances.
5. When my monthly bank statement comes out, I finish manually entering transactions, then I recon the entire account.
a. It seems like it might have something to do with the amount of transaction that you enter.
b. The reason I suspect that is the mini recons each month don't seem to be a problem.
c. The only accounts that have this issue have a lot of recon. entries.
d. For some odd reason I have noticed that memorized transactions in the past multiply. For example past paycheck shows up in the register multiple times but don't change my balance in my checking account. It does cause balance issue on the linked account. It also causes issues if I delete that second paycheck that is bogus.
e. I do a search for an amount that is off on my account.
-Quite often it is easy to find the issue and I finish recon. my account.
-It is frustrating how often I spend more time trying to fix the issue than I spend entering my entries and recon. my accounts.

I have been with Quicken since 1993 or 94 when I purchased my first computer after starting college.

q_lurker

3a. side note I would really like the monthly balance report back.

Not sure what you are referring to here.  Account balances report can be customized to report balances Monthly (in columns).

A Banking Transactions report will also subtotal by month. Limit the report to one account and you get the starting balance for each month and then a list of all that month's transactions, and a net change to the balance for that month.  Maybe print that off or save it to a pdf file to speed up identifying when a change took place.