Wells Fargo Account Reconciliation Issue

Bscull50

On the day after posting, new transactions from Wells Fargo accounts are showing in the reconciliation, but the Statement Balance is not coming with the transactions. I have to remove the transactions from the 'cleared' status and wait until the next day to reconcile.

[Deleted User]

It depends on when you are running the OSU.  Usually transactions from your bank don't post until the next day along with the balance update, because it usually is an overnight process.  I have accounts with WF and if I run the OSU later in the evening, sometimes I will see transactions for that day post on the same day, but the balance has not been updated.  What that means is that the transactions have posted early.  What I do then is "Finish Later" and finish the process the next morning.  This isn't a Quicken issue and in my opinion it's just a timing issue with how WF facilitates their processing, but I also understand that it can be annoying when this happens.

Chris_QPW

Well in theory this isn't supposed to happen, but unfortunately it is all to common with some financial institutions.  Needless to say one would expect that the balance sent would include all of the transactions sent, but that isn't always the case, and as such the "timing" of when you can reconcile to the online balance can be tricky.  In some cases it is so bad that really you need to switch to "statement balance" so that you can enter the correct balance/date.

If the connection type is Direct Connect then the financial institution has to fix the problem.  You would have to talk to them.

If the connection type is Express Web Connect then it could be either the financial institution or Intuit picking up the wrong information (Quicken Inc pays Intuit for this service).  You can't talk directly to Intuit about this, it would have to be a call to Quicken Support, and you might also want to do Help -> Report a problem, to submit it, but frankly wouldn't expect them to get it fixed.