Activating One Step Update

Mac48
Mac48 Member
Have been using Quicken for several years but not one step update so before starting I made sure all accounts had been Reconciled and took the plunge. After I put in credentials for my bank and it completed the process of updating my accounts there were duplicates from years back and none of my accounts were reconciled.
Good thing I made a backup

Best Answer

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited August 2021 Answer ✓
    Mac48 said:
    Thanks for confirming my suspicions but when I did that it still didn’t reconcile.
    I will try it again.
    I should have also mentioned that downloads during OSU also include an account Opening Balance based upon the time period that was downloaded.  When an account is first set up for OSU download a transaction for that Opening Balance will be entered into the register. 
    These Opening Balance transactions typically will have an Uncleared status (not C and not R). You can sort the register by status, again, to make finding that transaction easier.  When you find it, delete it.  (Note:  Make sure to not delete the Opening Balance transaction that you manually entered when you first added your account years ago.  You want to delete only the downloaded one.)
    Quicken will not add an Opening Balance transaction during downloads, again.
    (QW Premier Subscription: R42.21 on Windows 10)

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    The first time an account is setup for OSU there is no downloaded account history in Quicken's "memory".  So it treats that first download as a brand new account and enters all the transactions that are included in that initial download. 
    Most banks and credit card companies will download 3-6 months of data in that first setup but each financial institution determines how much data is downloaded.  While it can be a pain to clean up the duplicates (the must be manually deleted) it is a one time occurrence.  For future OSU downloads Quicken will remember what was downloaded and entered previously so duplicate transactions getting downloaded, again, will not happen.
    Manually deleting those duplicate transactions can be a very fast process provided all the transactions entered previously are marked as reconciled (R).  Then the new downloaded transactions (the duplicates) should be marked as cleared (C).  I suggest backing up your data file before proceeding.
    • Click on the Cleared column header in the register and it will sort all the transactions so that all the C transactions are grouped together. 
    • Left click on the 1st C transaction in the register to shade it, scroll down the register to the last C transaction and while holding down the Shift key left click on that.  All of the C status duplicate transactions should now be shaded.
    • Right click anywhere on the shaded C status transactions and then left click on "Delete".  All the duplicate C status transactions will then be deleted.
    (QW Premier Subscription: R42.21 on Windows 10)
  • Mac48
    Mac48 Member
    Thanks for confirming my suspicions but when I did that it still didn’t reconcile.
    I will try it again.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited August 2021 Answer ✓
    Mac48 said:
    Thanks for confirming my suspicions but when I did that it still didn’t reconcile.
    I will try it again.
    I should have also mentioned that downloads during OSU also include an account Opening Balance based upon the time period that was downloaded.  When an account is first set up for OSU download a transaction for that Opening Balance will be entered into the register. 
    These Opening Balance transactions typically will have an Uncleared status (not C and not R). You can sort the register by status, again, to make finding that transaction easier.  When you find it, delete it.  (Note:  Make sure to not delete the Opening Balance transaction that you manually entered when you first added your account years ago.  You want to delete only the downloaded one.)
    Quicken will not add an Opening Balance transaction during downloads, again.
    (QW Premier Subscription: R42.21 on Windows 10)
  • Mac48
    Mac48 Member
    Thanks
    That makes sense
This discussion has been closed.