Opening balance is wrong

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.

Answers

  • The Keeper
    The Keeper Member ✭✭✭✭
    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
    Tom Young SuperUser ✭✭✭✭✭
    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.