reconciling discover statement

doug kittredge
doug kittredge Member
I started using the quicken reconcile capability beginning of this year. It seems to work well with all accounts except discover. I have had to add an adjustment now for 8 months. Is this a known issue? Any insight into what is causing it?

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    I would suggest you delete all Balance Adjustment transactions. The more you Bal Adjust, the deeper the hole appears to get.
    Re-reconcile, going back to the last time your account reconciled correctly, then go forward "with a fine-tooth comb" and fix any discrepancies, comparing your register to your credit card statements.
    After downloading, review all newly downloaded transactions. If they're supposed to match an already existing transaction, but don't, drag and drop the downloaded transaction over the register transaction to effect a match.
    Being a Mac user, you should also check to make sure that there's only one "Opening Balance" (or similar name) transaction in your account register. Delete duplicate "OB" transactions. If this transaction acts like a placeholder and tends to recalculate its balance ... delete it and recreate it using the correct starting Date and Balance.
  • thanks for taking the time to answer but your solution just isn't worth the time it would take. I have been downloading transactions for years but only reconciling for 12-18 months. going through those hundreds of transactions just isn't worth it. Also, as a fairly basic user I don't know what you mean by "drag and drop the downloaded transaction over the register transaction to effect a match."