Reconciliation cleared balance is not zero; no transactions yet cleared

Tom Knueven
Tom Knueven Member ✭✭
Reconciling a credit card account. I have entered in the correct statement date, charges, payments and ending balance as per the statement. After clearing everything, quicken showed a difference. I rechecked my entries to ensure they matched the statement (they did); cleared all marked transactions and manually went through each line in the statement reconciling as I went; quicken showed a difference again. I re-cleared everything and realized that quicken was showing a positive cleared balance ($3,600.58) with no transactions cleared.
I always thought the cleared balance should be zero until I started clearing during reconciliation.

Comments

  • Hello @Tom Knueven,

    Thank you for coming to the Community with your question, though I apologize for the delayed response. 

    When reconciling using a paper statement, the cleared balance at the beginning of this process is actually the ending balance of the previous reconciliation. 

    Hope this helps! Do let us know if you have any more questions!



    Quicken Alyssa

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    "Reconciling a credit card account. I have entered in the correct statement date, charges, payments and ending balance as per the statement. After clearing everything, quicken showed a difference. I rechecked my entries to ensure they matched the statement (they did); cleared all marked transactions and manually went through each line in the statement reconciling as I went; quicken showed a difference again."
    Having worked through all "this month's" transactions twice to ensure they are recorded accurately, you pretty much have to conclude that the opening balance for the reconciliation is incorrect.  That is, some prior period transaction or transactions have changed such that you're never going to reconcile the account until you track down why the prior period balance has changed.
  • RhondaD_123
    RhondaD_123 Member ✭✭
    Seeing the same issue for the first time in one of my accounts. Both cleared and ending balances are correct and Quicken is showing an erroneous difference, though I reconciled to the penny on this account every month. Makes no sense.
  • Steve Mills
    Steve Mills Member
    Same problem here. This has been an issue for a long time. No solution that I've found.
  • MBechard
    MBechard Member
    First time happening for me - does anyone have a solution?
  • karjojr
    karjojr Member
    I'm having the same issue: I enter all the balances on the first reconciliation screen, go to the second screen that lists all transactions to be reconciled. At the very beginning, no transactions have been cleared. Shouldn't the "Cleared Balance" field be $0.00 to begin??
  • Carl_in_CA
    Carl_in_CA Member
    In my situation, the register had correct opening and final balances AND the transactions were correct, however, in the reconcile window, it would not reconcile. Unselecting all transactions showed "-1 entries selected" and a negative balance equal to the reconcile error. There was no opening balance error as others have found. The numbers just didn't add up in the reconcile window. Curiously, selecting all the transactions caused the error to double. So, I selected and unselected the transactions in the reconcile window until the balance went to zero. Very odd. I was then able to select all the transactions and it reconciled. This isn't a satisfactory fix, but I was able to move on for now.
  • Carl_in_CA
    Carl_in_CA Member
    More to the story: The count for number of cleared entries is incorrect. Unclearing the entries by dragging the mouse over the cleared expenses seems to get to zero balance quickly. The unfortunate side effect is that there are entries in the register that don't get the "R" for reconciled that have to be set manually so that the next reconciliation has the correct opening balance.
  • Carl_in_CA
    Carl_in_CA Member
    Even more: Once the count is cleared by dragging the mouse, each entry must be selected individually (no dragging) to get the correct sum.

    Also, if the starting balance in the reconcile window doesn't match the register, close the window without saving and open it again. It will likely be correct the second time.

    This is painful