Discrepancy between credit card balance in Quicken and online

I pay my cc balance in full every month, never carry a balance. But my online balance due for this coming month is higher by about $600 than my balance in Quicken is. Quicken includes charges that are beyond my cc closing date, so if anything it's Quicken that should have a larger balance. I have reconciled, and everything is okay there. I cannot figure out why my online balance due is higher than my current balance in Quicken for this cc. Any suggestions as to where to look would be appreciated!

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    Where are you seeing this balance in Q?  It could be in several places.
    IF, in your account register, are you showing future-dated transactions there?
    And, if in the Account Bar, is it set to show "Current Balance" or "Ending  Balance" ... which gets back to that future-dated transactions question.
    Also, do you reconcile to Online, or a paper statement?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    As the Online Balance Quicken obtained from the financial institution is unreliable, I suggest reconciling using a statement.
  • OTTBMom
    OTTBMom Member ✭✭
    It's not unreliable. It's up to date, I can tell by looking at the transactions on both sides. But somehow Quicken is missing about $1000 and I don't know where it's gone. If I were to pay my statement balance today, Quicken would show almost a $1000 credit on its side. That's a lot of money to be off by!
  • OTTBMom
    OTTBMom Member ✭✭
    NotaCPA --some helpful info from you! I did just now run a reconcile, and if I compare online balance to Q it does show a $1055 discrepancy. Now . . . how do I find the source of the discrepance? Or should I just enter a correcting txn and move on? I'm afraid if I do that it will be out of sync at a future date.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    @OTTBMom was your last reconciliation successful? If so, the error is somewhere after that point.
    What do the transactions after that last  successful reconciliation  have in the CLR column?
    You MIGHT need to print off a list of all transactions since the last successful one and reconcile to that.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • OTTBMom
    OTTBMom Member ✭✭
    So thanks to both of you for taking the time to help me out. I decided to just go ahead and add a txn to reconcile my Quicken side, so both sides match now and we'll see how things go from here.