Reconciliation not balancing

When I began my reconciliation on the bank account, the beginning and ending bank balances matched exactly with what the program showed. However, after reconciling the statement twice, I am out of balance. I have a large number of outstanding checks in prior months that would have been reconciled previously as the statements have matched up to this point. I saw a note about adding a previous reconciliation at the beginning to "jiggle" the correct point. How do I do that?

Answers

  • Dori
    Dori Member ✭✭
    I am having the same issues. Would love to be able to somehow do something other than add a balance transaction at the end.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    In my opinion a "jiggle" or balance adjustment transaction is the wrong thing to do, it isn't "reconciling".

    Reconciling is the process of bring your Quicken records into agreement with the financial institution's records.  Recording a transaction in Quicken that isn't in the financial institution's records isn't reconciling the two, it is give up and "punting".

    And constant balance adjustments are basically saying that you are never reconciling.

    If you were reconciling just fine and then all of a sudden not reconciling there are few likely causes.
    One is that you are reconciling to the Online Balance and it hasn't been properly updated.  Switching to reconcile to the "statement" would be a way to work around this (the "statement" can be the current online balance that you find on the financial institution site {don't include pending transactions}).  And some financial institutions include pending transactions either in the downloaded transactions or the online balance when they shouldn't.

    Another is some transaction(s) that were reconciled in the past have somehow changed.  This might be because of a bug in say syncing to Mobile/Web or human error or such.  One way to work with this is restore from a backup that was reconciled and work forward from there.

    And of course normal human errors in the reconcile itself especially if you are manual entering anything.  It is very easy to transpose numbers for instance.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • FlatLandGirl
    FlatLandGirl Member
    Thank you for your comment which was appreciated. It didn't give me any real points as to what to do, but you did point out all of the very bad things that can be done on Quicken by a beginner or someone who doesn't know what the hell they are doing in the realm of accounting. Thank you very much for the "pat on the head," but I believe I have the experience to figure this out. I was looking for something within Quicken that would allow the reversing of a reconciliation in order to see what is wrong or analyze what went wrong. After using Quicken for approximately 25 years, I was stumped with this one. I'm good. Enjoy!
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Thank you for your comment which was appreciated. It didn't give me any real points as to what to do, but you did point out all of the very bad things that can be done on Quicken by a beginner or someone who doesn't know what the hell they are doing in the realm of accounting. Thank you very much for the "pat on the head," but I believe I have the experience to figure this out. I was looking for something within Quicken that would allow the reversing of a reconciliation in order to see what is wrong or analyze what went wrong. After using Quicken for approximately 25 years, I was stumped with this one. I'm good. Enjoy!
    No where in your original post did you say anything about wanting to reverse the reconcile.  You said
    I saw a note about adding a previous reconciliation at the beginning to "jiggle" the correct point. 

    I'm not how anyone is going consider "jiggle" reversing a reconcile, given such a statement one is left with believing you are want to "adjust/add transactions" compensate for a bad starting balance.  And in fact I did state one way to deal with this, as in restore from a backup.  The other would be to select the first transaction you want to reverse the reconcile status on and then hold down shift and right click on the last one and select "Reconcile status" -> Cleared.

    And I was also at the same time answering this statement.

    Dori said:
    I am having the same issues. Would love to be able to somehow do something other than add a balance transaction at the end.

    Clearly Dori is currently putting in balance adjustments instead of really reconciling.  So to me that means she took your statement of what the problem is as the same way I did.  Instead of doing a proper reconcile which is to track down the problem and fix it, there is suppose to be a way to jiggle it and it will come out right.

    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    P.S. There is no way anyone posting can know how much experience you have or what you have tried, when you question doesn't say so.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    If you want to "reverse" a previous reconcile - maybe "undo" the June reconcile because you can't get the July reconcile to work - then you'd simply change the "R" in the Clr column for those transactions back to a "c."  You can do this one transaction at a time or use the Windows convention for selecting a beginning and ending transaction in the list and change the reconciliation status en masse.  Right click your selection and click on "Reconcile status."
    "When I began my reconciliation on the bank account, the beginning and ending bank balances matched exactly with what the program showed."
    I stumbled over that statement because when I begin a reconciliation only the beginning balance is shown on the first screen.  The ending balance is blank, waiting for me to hand enter the number from the most recent statement.  If you're seeing that ending balance at the start of a reconciliation, perhaps that's because you've selected the option to reconcile to the "online balance?"  (I consistently use the "statement balance" in my reconciliations so I'm not familiar with what that opening screen shows when you're using "online balance" to reconcile.)  If that's the case then there have been reports that for whatever reason sometimes that online balance is simply wrong, so you'd never be able to reconcile in that case.

  • Mark1104
    Mark1104 Member ✭✭✭✭
    this whole thread leaves me confuses.  Is there an understanding of what a 'reconciliation' is and means.  

    The whole point is to look at the CURRENT balance in Quicken and the CURRENT Bank statement balance and determine SPECIFICALLY what causes the two balances not to match.  the options are rather simple

    1) a deposit is listed in the bank account and not in Quicken (action: add the deposit in Quicken)
    2) a deposit is listed in Quicken and not in the bank account (action: determine that the deposit in Quicken is correct and if so, do nothing, it should clear next month)
    3) a check / charge is listed in the bank account and not in Quicken (action: add the charge in Quicken)
    4) a check / charge is listed in Quicken and not the bank (action: determine that the charge is correct in Quicken and if so, do nothing, it should clear next month).

    the worst thing to do is add a balance adjustment in Quicken.  That is not reconciling.  That is conceding that the Bank balance is correct without regard to timing differences..... it's a veritable mess; 

    just my two cents (and that reconciles :-)) 
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    "Is there an understanding of what a 'reconciliation' is and means. "
    Sure.  It's simply a detailed listing of transactions that make up the difference between your balance and the external source's balance.  Once you figure out the details it's up to you what to do with these transactions, which very well could be "nothing."

  • maratekin
    maratekin Member
    To echo Chris_QPW's comment, making balancing entries is not reconciling - it's a patch that gives an unwarranted feeling of comfort that you are, in fact, reconciled.

    I'm a Quicken user since 1990, and I just spent two hours trying to reconcile a credit card, only to find that Quicken had changed the opening balance (going back to 1998). This is not an isolated incident - I had the same issue occur a couple of weeks ago when I was reconciling another credit card account - the opening balance (at the top of the register) had been changed from zero (which is what it should have been) to a significantly larger number that was throwing off the balances. Why this happened, I have no idea.

    I have had instances where individual transactions (that were reconciled) "disappear," which makes the reconciliation extremely difficult - in those cases, I have restored older versions (when I was reconciled), exported the register to Excel, and written formulas to isolate the missing transactions, which I then had to recreate.

    I'm also experiencing the missing splits on paychecks that persists - this results in duplicate, "phantom" entries that show us as double-deposits in accounts like my 401(k).

    I'm not certain if these data issues are related to the online syncing of data; I do not, however, like the software updating things like opening balances without alerting me. That is frankly unacceptable behavior in the absence of any audit trails to isolate the changes.

    I feel like that of late (within the last year), I spend nearly as much time managing my data file and doing these kinds of fixes vs. using the software to help me evaluate my financial position. The subscription model is a constant, nagging reminder that I'm paying money AND needing to engage in this data management exercise. Not a great customer experience by a long shot.

    On the whole, I wish Quicken would fix these foundational, basic needs of customers before spending a bunch of time attempting to roll out new features and "benefits" that are of questionable value (yet prompt customers to continue to pay the annual subscription fee).

    I doubt you will find a more loyal (and dedicated) user of Quicken, but I have to admit that my loyalty (and patience) is waning.
  • Mark1104
    Mark1104 Member ✭✭✭✭
    I see a lot of posts about synching issues to mobile, etc.  I have never used these additional quicken tools and don't have any of the issues noted.  67,000 transactions dating to 1994

    I am curious, what is the value of synching to mobile?  All my banking info is available to be via the bank's mobile app, which is designed solely for that purpose, and I am not a day trader, so I don't require immediate and instant access to my investments,  

    So what is the value of Quicken synching to mobile? 
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    @maratekin unfortunately syncing to Mobile/Web has be "implicated" in many "change data" kind of problems over the years, and if anything it has gotten worse in last year or so.  The very fact that the operation has basically free rein to change anything, and it the background where you can't tell what it does makes it a very dangerous feature as far as I'm concerned.

    Also on the changing of the opening balance, that seems to be a standard feature that went bonkers.
    When you first connect an account for online access Quicken calculates the opening balance based on the transactions it downloaded.  For whatever reason that was being triggered when it shouldn't have, and it was changing the existing opening balance.

    I know that it was talked about quite a bit in this forum and I think that this might be a reference to when they put in a fix for it.


    Another thing that has come up quite a bit is that people have got a message that there isn't any transactions to reconcile.  This seems to be that the Online Balance/Date isn't updated even though there are new transactions, and seems to be related to Express Web Connect.

    Unfortunately the way I feel about Quicken is that one has to learn about which features not to use so that they minimize the possibility of problems.  And the list to avoid is getting quite long.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
Sign In or Register to comment.