Why does quicken generate the wrong balance after a transaction update.

Hi, I am new to this new quicken. However I have been using quicken for over 20 years....but just manually. Manually reconciling my accounts down to the penny. I just bought a new quicken deluxe. Setup went well...UNTIL...I did the first transaction update from my bank. Amazingly the ending balance from the previous month was wrong...by over $4000 !!!! I have over 15 years of data in this register and I cannot go back and find the needle in that haystack. So I started all over....and the same thing happened. When I did my transaction update the balance was wrong....AGAIN. So for my money.....having a subscription is a waste of my time and money. What is going on? My old data was correct down the penny....for years.....now with one update it is all messed up. And the several hours of time wasted trying to fix this....I quit. I am going back to manual updating and manual reconciling and cancel my subscription as soon as possible. I apologize for this rant....but it is very frustrating. I had high hope for saving time using this new version of quicken....but not so much now. Does anyone have any fix for this?Thank you.

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited January 1
    When you download transactions for the first time, you'll get some number of historical transactions going back 3 months or more, which will duplicate transactions you've already entered manually.
    The fix is simply to delete the duplicate transactions. In a banking register, sort by Order Entered and all the new transactions should sort to the bottom, where they can be deleted en masse.
    Lacking the Order Entered sorting in investment accounts, you'll need to use Edit Multiple Transactions and handle it by eye.
    Better yet, before you download, disable the 2 "automatically add" preferences as shown below. Then, if you're lucky and Quicken obeys your preferences, you can delete the duplicates before they populate your registers.
    If you choose not to renew your subscription, you'd be better off reverting to whatever version you were using before, since that one will not expire.

    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • cossack305
    cossack305 Member
    Thank you so much for the follow up information. I just decided to start a new account today and change the name of the old ones and just keep them separate. I want to give the software a chance and expand my monitoring of several bank accounts in one place. As far as going back to my old software....unfortunately Quicken deleted that when the new version was installed....and of course I cannot locate my old cd....go figure. Thanks again.