Reconciliation Difference

Tom Knueven
Tom Knueven Member ✭✭
Reconciling a credit card account.
I have cleared all transactions as per the statement.
The charge total cleared matches the charge total on the statement
The payment total cleared matches the payment total on the statement
Ending statement date is correct; charges are correct; payments and credits are correct; ending balance is correct.
Quicken is showing a cleared balance $3.96 higher (more) than what it should be.
Last months statement balanced perfectly.
Any insights as to what is occurring?
Thanks
Tom
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Comments

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    The "Cleared Balance" that Quicken starts with is calculated from the reconciled transactions plus the cleared ones.  If any past transaction was changed, this number will change and throw off the started number.

    I suggest you check the balance of the last reconciled transaction from the last reconcile and see that it hasn't changed.
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  • donnien320
    donnien320 Member ✭✭
    Related: Why does Q want to make a balance correction for uncleared items, when performing the reconcile report? When this happens, it is doubling the number of item amounts that have not cleared, (but entered in the register), thus throwing the ending balance off.
  • Hello @donnien320,

    Thank you for choosing to come to the Community with your question, though I apologize for the delayed respose.

    When reconciling an account, Quicken is only calculating for cleared transactions. Therefore, if a "balance correction" is offered, it is not based on anything uncleared. The "balance correction" would only happen due to a discrepancy in the account register, for the period you are reconciling. 

    Do let us know if you have any further questions on this, thanks!



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