First time downloading bank transactions - account values change before accepting downloaded transac

Hello All,

I have been manually entering my savings account and checking account transactions for the last 10 years in Quicken. I decided to use online services and download transactions going forward. So before I started the online download setup, I reconciled all 3 accounts and matched the amounts with what is showing at my bank. I then made a complete backup of my file.

I then configured Online Services->Online Setup for Chase bank with the option to not automatically enter the transactions, I have to accept them manually. I entered my account and password. My accounts were found and I matched/linked them to existing accounts.

Once the download was complete (I have not accepted any downloaded transactions) I see that the account values for 2 of my accounts are different now(3rd account I don’t use much, so no transactions in the last 3-6 months). I am curious why this is happening. I didn’t accept any downloaded transactions yet. With my other accounts this doesn't happen. I always have to accept any transaction for the account value to change.

So, I am not sure what is happening and why my account values are changing when I haven’t even accepted any of the downloaded transactions. Has anyone seen this?

Even if I accept all the transactions the ending amount is still not correct - it doesn’t match what Chase says I have.

It seems to me like there may be something else going on other than downloading just the transactions, since I don't even accept them and the account values have changed.

Any thoughts or ideas?

Thanks,
Brian

Best Answer

  • garysmith87
    garysmith87 Member ✭✭✭✭
    Answer ✓
    You might want to re-check your account register(s) Opening (Starting) Balance.  Check to see if that amount changed.  

    I've had that happen previously.  If it did change, just edit that Opening Balance transaction to the correct amount.

    You may have to restore your backup and manually write down those balances and then re-open your current data file and compare. 

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @BTBT

    It is more than likely that in connecting the accounts, duplicate transactions have been downloaded.  It is difficult for us to know why or how the "account values for 2 of my accounts are different now" but is doesn't surprise me.  

    Since you have a good backup, that was made immediately before the download, I suggest that you continue forward with the process and accept, match, or delete the downloaded transactions as appropriate.  Once that is complete, hopefully the three balances (online balance, current balance and ending balance) should make sense.

    If not, get back to us and we'll help you with next steps.

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
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  • BTBT
    BTBT Member ✭✭
    edited August 2021
    Ok, thanks Frankx. I will try to get time soon and do what you suggest and get back to this thread with the outcome. I appreciate the advice.
  • garysmith87
    garysmith87 Member ✭✭✭✭
    Answer ✓
    You might want to re-check your account register(s) Opening (Starting) Balance.  Check to see if that amount changed.  

    I've had that happen previously.  If it did change, just edit that Opening Balance transaction to the correct amount.

    You may have to restore your backup and manually write down those balances and then re-open your current data file and compare. 
  • BTBT
    BTBT Member ✭✭
    Hello Frankx and Gary. Thanks for the suggestions. Gary was correct, Quicken was changing the 'Opening Balance' amount for all of the accounts that were newly downloaded. I corrected the opening balance and that solved the issue. Thanks!

    As you mentioned Gary - I did have to do a restore to get the original opening balance numbers and then do the web connect again. Once I connected and downloaded the accounts and linked them again I verified that Quicken incorrectly changed the opening balance. I corrected them and the accounts values all matched up.

    Seems like a strange bug from Quicken to arbitrarily change the opening balance without any indication.

    Thanks for the suggestion. It saved me a bit of frustration. :)

    Cheers,
    Brian
  • Wokiebear
    Wokiebear Member
    I have had just recently this same problem except since 2016 I have downloaded transactions from the bank smoothly. Now after a recent update, I have the automatic update turned off, the transactions are waiting to be accepted, but all the previous values are changed. I have a good backup from July where my values are reconciled and correct. There is not way I can change the opening amount - been using Quicken way too many years. Why all of the sudden it changes? I did have a question pop up with Chase where I was reconciling that entry in my bank account (where it is an AutoPay), so Quicken automatically populates the Chase account to show the payment, and the warning was did I want that [Chase Amazone] to stay as it would deposit in the same account. I didn't want it changed so I hit cancel. Now I cannot figure how to fix it.
  • Hello @Wokiebear,

    Thank you for reaching out to the Community with your question. Can you please provide me with some more information on the issue you are having? 

    With the opening balance suggestion in the earlier responses, sometimes there is a new opening balance entry. We have also seen situations where the original opening balance transactions amount has changed. If you do have a good backup, then you can check the opening balances in that file and change them if needed in the other file. 

    As far as the auto pay issue you were describing, I am not clear on what you are describing. If you don't mind, could you please provide a screenshot of the error message you described receiving? If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop screenshots to your response if you are not given the option to add attachments.

    Quicken Alyssa