Downloaded Transactions Posted With Later Date

mgrant1152
mgrant1152 Member
My Quicken account reconciliation with Wells Fargo Bank for months 12/31/2021 and 11/30/2021 uncovered an issue with the dates that are posted during my daily transaction download. For example, Wells Fargo Bank posts their interest at the end of the month. However the 11/30/21 Interest payment downloaded to Quicken with the date of 12/1/21, even though the Wells Fargo website and bank statement, shows it was posted on 11/30/21. This was true for the 12/31/21 interest payment as well. Note that it was not only the interest payments downloaded with this issue, but other transactions as well.

This caused a problem with reconciliation via Quicken. Using the 11/30/21 reconciliation as an example, when I put in the reconciliation end date as 11/30/21, there was a discrepancy because the 11/30/21 transactions were downloaded to Quicken as 12/1/21. When I put in the reconciliation end date as 12/1/21, everything reconciles just fine. As an experiment, I went into the transactions posted with 12/1/21 and changed the date in Quicken to 11/30/21. This made no difference and the only way I could get the reconciliation to come out successfully, I had to changed the reconciliation end date to 12/1/21.

Please note that this same thing was true for the 12/31/21 reconciliation and I had to put in a reconciliation end date of 1/1/22 in order to get it to reconcile.

Please note that I have been a Quicken User since 1994 and I am OCD about reconciliation every month and I always balance to the penny. I have never had an issue until now. This issue appears to be a Quicken bug in the download process.

Please help.

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    There's an easy way to see if Quicken is doing this or if your bank is doing this. Click on one of those interest transactions, and select View > Show Inspector. At the top is Quicken's date, and near the bottom is the Posted Date. If the Posted Date shows 12/31/21 but Quicken's date is 1/1/22, that would be odd. But if the Posted Date shows as 1/1/22, then that date is what your bank is sending to Quicken. Please report back what you find. (A screenshot of one of the Transaction Inspector window could be helpful.) 

    You could pursue this with Wells Fargo if they are sending the wrong posted date. Or you could just live with it, and always enter a date a day or two after the month-end in your Quicken reconciliation. There is really no downside to using a later statement ending date in Quicken. If any other transactions show up in your reconcile window which didn't clear in the prior month, just ignore then=m and don't check them, and they'll show up in your next reconciliation. 
    Quicken Mac Subscription • Quicken user since 1993
  • Thank you for your response! I never knew about the Show Inspector. I checked it for three transactions that were posted on the Wells Fargo website as 12/31/21 but came through to Quicken as 1/1/22. When I did a Show Inspector in Quicken for each of these transactions, the Posted Date shows as 1/1/22.

    I will consider contacting Wells Fargo to report the issue. It just doesn't make sense download to Quicken, a different date than is posted by Wells Fargo. It just serves to make things confusing. However, if I get nowhere with Wells Fargo, I will just live with it.

    Thanks again!
  • jmad
    jmad Member
    Mgant, I have the same issue. For me, it wasn't a simple matter of changing the dates, I have to delete and re-enter each mis-dated transaction.
    Thanks Jacobsf the tip
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @jmad Can’t you simply add a day or two to the statement ending date when you reconcile? That’s a lot easier than deleting and re-entering transactions.
    Quicken Mac Subscription • Quicken user since 1993
  • I have this exact issue with my credit union. I have been using quicken since the 90's and never had this issue until I was reconciling for December 2021. There ended up being 5 transactions that should have been posted on 12-31-2021 but posted on 1-1-2022 instead. This caused the reconciliation of my account to be off by this exact amount. I called Quicken and opened a ticket, but they said it was the bank. I just called the bank and they said they do not partner with Quicken so it is a quick download issue. I think this happened after an update but cannot confirm. I can confirm when I download the file from the bank to import manually, it is correct there. I can confirm the date is correct on my bank statement. I cannot change the post date because quicken will not let me. I made the download ID visible in my register and it even shows the correct date there. I am about to call quicken support and see what they can do. I do not want to do this every month and not feel comfortable because quicken thinks it needs to add thousands of dollars on an adjustment transaction to make the math work. This results in showing much more money in my account than there is actually and makes Quicken useless.

    Quicken Windows User Since the 90's
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    If the transactions posted on 1/1/22, that information comes entirely from the bank.

    If your issue is just with the reconciliation, there's an easy way around this. Don't create an adjustment! Just set the ending date for your reconciliation to 1/1/22 instead of 12/31/21. This will get those transactions to be visible in your reconcile window, and you can complete the reconciliation. (If there are any other 1/1/22 transactions not on your December statement, just leave them unchecked in the Reconcile window.)

    Going forward, you might want to check Preferences > Connected Service Stone see if the checkbox for "Use posted date for matched transactions" is checked; if it is, try unchecking it to see if what downloads from your bank uses the transaction date instead of the posted date. 

    If your bank continues to download transactions on a posted date which is a day or two after the transaction date they show on the Statement, you can just use the first of the month date instead of the last of the month date in Quicken each time you reconcile. 
    Quicken Mac Subscription • Quicken user since 1993
  • Jacobs, I’ve been fighting and hating this for over a month. I’ve used quicken for years and this is the first time I’ve ran into anything like this. (Other than syncing online / web causes me problems).

    THANK YOU THANK YOU THANK YOU!!!
    My mind is blown at such a great and simple solution.

    Thank you again!
    Robby
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