Truist - Downloaded transactions using wrong balance for reconciling

GA_Guy

Since switching from SunTrust to Truist last weekend, reconciling my checking account after a download always uses the incorrect balance, thus forces me to make a balance adjustment to complete the reconciliation. In the below portion of the QFX file (which I downloaded manually - I usually use direct connect) note that the BALAMT entry 8604.84 is the actual current balance *before* pending transactions. Quicken is using the BALAMT 7132.49, which is only correct *after* taking pending transactions into account. (These pending transactions often aren't in Quicken yet, as they are debit or other "card not present" transactions that have yet to clear)

What can be done?

<LEDGERBAL>
<BALAMT>8604.84
<DTASOF>20220302120000
</LEDGERBAL>
<AVAILBAL>
<BALAMT>7132.49
<DTASOF>20220302120000
</AVAILBAL>
</STMTRS>
</STMTTRNRS>
</BANKMSGSRSV1>
</OFX>

bkrieger1958

I'm having the same issue with pending payments as GA_Guy above. At this rate I'll have balance adjustments almost every day. I'm using Express Web Connect. Anyone know what's going on ?

GA_Guy

Thanks, bkrieger1958. Quicken needs to use the LEDGERBAL, not the AVAILBAL. I've been logging into Truist every day after processing downloaded transactions to check my "cleared balance", which I manually tie to that in Quicken, avoiding the crazy adjustments. But if I have to do that, why am I paying Truist $7.95/mo for direct connect access?

Sapster

Quicken Support Please fix this issue!!! Truist is giving you the both posted and pending balance. Uou are using the wrong one to reconcile. Never had this problem with Suntrust!!

johnaclark6

I started a thread on this some months back and nothing was done about it. Truist blames Quicken and Quicken blames Truist. [Removed - Speculation]

For reconciling, if there is a difference in the reconcile window, I just click "Finish Later" and leave them cleared but not reconciled. I don't do any balance adjustments. Once there are no pending transactions I can do a reconcile and everything will reconcile. The biggest problem is it's only a few times a month I don't have pending transactions.

I really wish someone would fix it but am not hopeful. [Removed - Off Topic]

GA_Guy

This is what I do EVERY DAY to get around this issue:

1. Login to Truist and make a note of my most recent "posted balance" (the one just below any pending transactions, not the "available balance" which is up top).
2. Download and accept all transactions, finish the Reconcile, and allow the adjustment.
3. Delete the adjustment.
4. Sort my register by the Cleared column and compare the balance on the last reconciled transaction to the posted balance I wrote down. They tie out unless I jacked something up.

BTW, having to do this every day really [Removed - Language] me off.

Sapster

So then there's no reason to own Quicken if you have to go to the bank website every day?

johnaclark6

[Removed - Disruptive/Speculation]

johnaclark6

I do the same thing but I just log in and note the posted balance. Then I do the reconcile but I hit finish later. It shows the transactions as cleared but not reconciled. As long as the difference matches my posted balance I know everything is correct...it just doesn't reconcile everything until there are no pending transactions.

Chris_QPW

johnaclark6 said:

Quicken has plenty of time to moderate posts for "speculation" and "off topic" but nobody has time to even look into the issue or provide any update. Of course, this will be moderated for "speculation."

Just in case you don't know, Moderators aren't developers or backend support for tracing down such problems.  How much time they have on their hands (which you have not idea) has nothing to do with when a given problem will be resolved.

johnaclark6

> @Chris_QPW said:
> Just in case you don't know, Moderators aren't developers or backend support for tracing down such problems.  How much time they have on their hands (which you have not idea) has nothing to do with when a given problem will be resolved.

I'm well aware of moderators, who they are, what they do, etc. I've moderated forums over the years, most recently some of the old BlackBerry forums of yesteryear. It really makes no difference what the forums are for, they all work the same. [Removed - Inaccurate] I use my Quicken ID to log in.

I tried the official support channel and got no response. Zero. All it takes is for someone to chime in and say "we're aware of the problem and are working with the financial institution to resolve it."

Chris_QPW

johnaclark6 said:

I tried the official support channel and got no response. Zero. All it takes is for someone to chime in and say "we're aware of the problem and are working with the financial institution to resolve it."

Are you referring to Help -> Report a problem?
They don't provide feedback through it.

If you want to response you have to talk to Quicken Support.
Contact Quicken Support

johnaclark6

I did both per the replies given here on the forum. Quicken Support said I needed to contact Truist. Truist said I need to contact Quicken. Nobody takes responsibility for the issue. They each say it's the other. That's why this is so irritating. Problems happen...I get it. But to just point fingers to the other is poor customer service. It's Quicken's service so they should step up and get with the financial institution to work out where the problem lies.

GA_Guy

> @johnaclark6 said:
> I did both per the replies given here on the forum. Quicken Support said I needed to contact Truist. Truist said I need to contact Quicken. Nobody takes responsibility for the issue. They each say it's the other. That's why this is so irritating. Problems happen...I get it. But to just point fingers to the other is poor customer service. It's Quicken's service so they should step up and get with the financial institution to work out where the problem lies.

Yeah, that’s BS. Quicken has had to develop import scripts for many, many financial institutions. All they have to do is change what XML (or other) tag they use for the ledger balance.

thecreator

As anyone try using the Paper Statement Balances to reconcile their Checking Account Register?

Sapster

Wow, it gets worse! Truist now has 3 balances to fail Quicken online balance reconcile. I used my Debit card yesterday and the charge DOESN'T show up in the Truist pending balance but does reduce my online Available Balance by the card amount. Quicken INCORECTLY downloads Available Balance (which includes pending and unlisted debit charges never downloaded to Quicken) instead of the posted balance (all which have been downloaded). So reconcile fails if there are any unposted not-shown debit charges in addition to the shown "unposted" charges.

Quicken reconcile to Truist online balance does not use the posted balance (as Suntrust did correctly for over 10 years) and is off by all pending debit AND pending amounts.

Truist support says its not their fault since they don't control the numbers Quicken uses to reconcile. I've read that both posted and available balances are downloaded to Quicken. Its obvious Quicken is incorrectly using Truist available balance instead of posted balance (charges that have been downloaded) for reconcile!

GA_Guy

> @Sapster said:
> Truist support says its not their fault since they don't control the numbers Quicken uses to reconcile. I've read that both posted and available balances are downloaded to Quicken. Its obvious Quicken is incorrectly using Truist available balance instead of posted balance (charges that have been downloaded) for reconcile!

Yes, I've looked at the download file (see up top for an example). Quicken needs to use the LEDGERBAL, not the AVAILBAL.

Rusty.Stone

I am so happy that I am not the only person having this issue. I spent a number of times on the phone with the Quicken support to no resolution. It sometimes works and sometimes doesn't. I have been a loyal Quicken user since version 2 (I think it was) and have been very happy with the quality of their product. I spent 40+ years in software development so I understand the complexities. But what I do not understand is the apathy of their support on this problem. My normal conversations with them is to explain that it appears they are using the begin balance for the account before applying the cleared transactions instead of the ending balance. The interactions have been pretty standard, reset the connection etc to no avail. The problem I have now is that it is way to complex and time consuming for me to convert my personal book keeping to a different product even though it is really tempting.

JRJRJR

Hello -- Like every other person here... I have the same problem. As a result, I am keeping two sets of books and then doing a "self reconcile". It is much more painful than my twenty years of using Quicken in the past have been. It is not clear to me if Quicken is taking this problem seriously or not. It sure would be nice if Quicken (knowing they are being provided TWO "balances" bye Truist, would give us the option of selecting which balance we would like to use for reconciliation. At my age, I do not need the extra steps I am going through now. An interesting side-note... I have quite a few Truist accounts. It is only my primary checking account that seems to have this issue. Perhaps that is due to the higher frequency of "pending" transactions... I am not sure. QUICKEN TECHNICAL SUPPORT - PLEASE help us on this issue!

bkrieger1958

Hi Quicken, are you aware of this issue, maybe even working on it ? Please help us out here.
Thanks!

ericdsa

I think this works better now than it did with SunTrust, but really I should not have to log into the website or Trust app and repair the reconcilement. Please correct this Quicken! Use the correct amount, please. As others have said, why am I paying for a product to do things automatically if I have to redo them manually?

bkrieger1958

Bueller? Bueller??

Sapster

[Removed - Solicitation/Speculation/Rant]

paulweinmd

I use quicken for my corporation because my account wants me to but it never balances; I set up a suspicion category for bank adjustment and every few months its does reconcile

paulweinmd

It looks to me if something as simple as reconciling cannot be relied on customers will have no choice but to switch to the individual banks software which I use for my personal banking: BoA for personal is excellent. I use citibank for my corporation and unable to adequately reconcile automatically. All my investment accounts are all online with excellent software to follow everything closely. Unless Quicken does something magical I am afraid it will become a dinosaur and obsolete. I have used it form more than 20 years and will hate to give it up. Perhaps Intuit saw the writing on the wall and gave it up. I really don't have the time or patience to sit and try to figure out why it does not work. I simply reconcile with bank adjustments for the error and then let my accountant deal with it.

capnlou

I am having the same problem with a Zions Bank Checking account. This account reconciled PERFECTLY for 20+ years. Then, something changed about 6 months ago and the account never reconciles correctly. I cannot figure out if it was a change with my bank or with Quicken. Everytime I download new transactions and I reconcile the Quicken balance does not match the bank and an adjustment is required. I have wasted too much time on this issue. I too have use Quicken for over 2 decades but it is just becoming too time consuming and for the value I get there is a great debate in my mind whether I should stop wasting my time using Quicken and just give it up altogether. I love tracking my net worth over time and I use the budgeting tool constantly. But it is just getting to be so complex and error ridden. For years now I have had to spend countless hours troubleshooting problems and errors.

johnaclark6

And now, for our trouble, they have decided to raise the price...you know, because they've added so many features--like putting a note on my budget. Whoopie. How about fix the basic features that aren't working! Good grief.

bwiegman

I am having the same issue with quicken picking up available balance (includes pending) versus cleared balance. I noticed this when I did an update to my Mac version (Version 6.8.2 (Build 608.44865.100)) a few weeks ago. I noticed it with my most active bank accounts. My workaround is to add the adjustment, and then delete it before I run another update. I have gone from daily updates to 2 - 3 times a week to minimize the annoyance. Is there a patch for this?

johnaclark6

Quicken has done nothing about this. My work around is just to allow the transactions to clear but click "finish later" at the reconcile screen if it shows a difference. When you update on a day where there are no pending transactions all the transactions should reconcile and show 0 difference. It's pretty annoying for the constant money Quicken now wants just to be able to have this feature.

Sapster

> @johnaclark6 said:
> Quicken has done nothing about this. My work around is just to allow the transactions to clear but not click "finish later" at the reconcile screen if it shows a difference. When you update on a day where there are no pending transactions all the transactions should reconcile and show 0 difference. It's pretty annoying for the constant money Quicken now wants just to be able to have this feature.

The correct number is provided by the bank, Quicken just doesn't use it. Pretty sad they won't fix this when its no more than changing the variable they reconcile with!

johnaclark6

> > @johnaclark6 said:
> > Quicken has done nothing about this. My work around is just to allow the transactions to clear but NOT click "finish later" at the reconcile screen if it shows a difference. When you update on a day where there are no pending transactions all the transactions should reconcile and show 0 difference. It's pretty annoying for the constant money Quicken now wants just to be able to have this feature.
>


I didn't mean to leave the word "not" in there. I edited that. I just click "finish later" and it clears them without reconciling them. They will properly reconcile once there are no pending transactions. It's amazing it can take a month or more before I get a day with no pending transactions and am able to reconcile!