Configure Reconciliation

My father has been using Quicken for a number of years. Recently, his online reconciliation has stopped working. It appears that there is no online banking information. When I specify setup, Quicken wants to pull all transactions, and creates a new entry in "Banking" showing the entered data (manual) along with all the downloaded data, effectively reporting double the actual balance.
Do I have to set up an online account, and have the banking information incorrectly report the balance because it is adding the manual balance to the online balance?
Any assistance will be greatly appreciated.

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    HI @rdunnmiller

    You asked "Do I have to set up an online account, and have the banking information incorrectly report the balance because it is adding the manual balance to the online balance? "

    The answer is no, you don't have to go through the process of "connecting" (or setting up an online account in Quicken, in order to do an account reconciliation.  Instead, you can perform a "manual bank reconciliation" using the data that has been entered into Quicken and a recent bank statement (either a paper bank statement, or a bank statement accessed online.  When you start the reconciliation process in Quicken - it asks whether you want to reconcile to a "paper statement" or to the "online balance" - you should use the "paper statement" approach.

    Let me know if you have any questions or followups.

    Frankx

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