Third Federal Savings and Loan (Opening Balances changed on initiating download of transactions)

I have three accounts at Third Federal Savings and Loan.
Two of these accounts are decades old (Checking and Savings). I have been manually maintaining these accounts in Quicken from Electronic Statements. (No Quicken Transaction downloads were available)
One is new (HELOC).

When I recently set up the HELOC in Quicken I was prompted that I could download Transactions from Third Federal Savings and Loan.

I initiated the process, The HELOC came in fine, and I notice new Transactions in the Checking and Savings.
I was happy, until it came time to reconcile the accounts.

The current Checking and Savings account balances were grossly off.

I loaded a Backup from Quicken, Exported both accounts to Excel.
Much to my surprise The opening Balances were not the Same (Even though they had been reconciled for years).

- I changed the Savings opening balance to the backup Opening balance.  The Current Balance matched the online statement.

- I changed the Checking opening balance to the backup Opening balance. The Current Balance matched the online statement.


I would like to suggest that Quicken prevent the opening balance from being changed by a download without user interaction. This would be similar to the Quicken behavior when manually trying to change the opening balance of an account.

I always run the latest version of Quicken Home, Business and Rental.
Using Quicken since the 1980's

Comments

  • Hello @DJW,

    Thank you for taking the time to visit the Community and share your thoughts and experience with us. I apologize that you had to go through that, but appreciate you sharing this for the benefit of others. 

    Unfortunately, we have seen this happen before, in fact, it is one of the first things I check when there is a balance issue.

    I am happy to hear that you were able to find and correct this, hopefully without too much trouble involved. I will pass your feedback along to my superiors. Thank you.



    Quicken Alyssa

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