None of my accounts match my bank. Loan amounts are completely wrong. How do I fix this?

Question

My loan amounts are off and when I tried to download transactions from the bank it put my loan in a negative balance.

NotACPA · Answer

Also note that a Loan account balance, in Q, IS typically shown with a RED (ie, negative) number.  As in "You're in the red" meaning that you owe someone money.Also, what type of loan is this?  But few, other than a HEL or HELOC, should be set up for download into Q as doing so causes additional issues. And HEL and HELOC loans are set up in Q as if they were credit cards, since you can take additional draws upon the credit line which you can't do with a typical loan.

Quicken Jasmine · Answer

Hello @PHIL STARK,

Thank you for contacting the Quicken Community, though I do apologize that you are experiencing this error with your loan account(s).

Before I can further assist you, I require some more information. What version of Quicken are you running? You can see this by navigating to Help > About Quicken. What financial institution are you experiencing these errors with? What is the connection method with that financial institution? You can see the connection method by navigating to Tools > Account List > Edit > Online Services. Do you receive any error codes or messages when attempting to update your accounts?

Looking forward to hearing your response.