How do problem solve a download reconciliation that won't balance?

narthur

First time downloading a credit card account. Now I can't reconcile by over $1,200. All my entries from the last reconciliation indicate manual entry (were NOT) and have nothing to match. Don't even know where to start to resolve.

NotACPA

Start with double checking  the Opening Balance in  the account.

It should be the Closing  Balance on your last  paper  statement  PLUS and debits that  didn't make that statement MINUS any deposits outstanding.

Also,  are you reconciling to  a paper statement?  Or  the Online  balance, which is notoriously unreliable?

narthur

Thanks for the quick reply.

Recon is not the issue. Doing paper Q for decades. Finally downloaded first time. and now I have crap.

Likely I don’t understand some of the download terminology.

Matching entries from downloads (claimed to be manual, not) to non-existent download entries has me completely lost.

Can’t think this affects the imbalance but where I finally gave up.

NotACPA

Does the Prior Balance in your Reconcile window match the Closing Balance on  your Prior statement?

Have you compared the downloaded  txn  to the latest statement?

What is your download method for  this account?   Do  TOOLS, Account List  and look  in the Transactions Download  column beside the account.

Sometimes, on first  download, Q  gets confused and downloads things it  shouldn't.  Stick  with it and the next download should be MUCH  better.

thecreator

Hi @narthur ,

If you are doing a Paper Statement, uncheck all cleared transactions and rechecked Beginning Balance and Ending Balance. Then cleared the transactions, one at a time. Did the Previous Reconcile Balance?

narthur

Perfect reconciliations of prior manual /paper statements.

Recon after downloading did NOT show prior balance so had to manually enter. Thought that strange and unlike manual recons.

The Download also re-entered 3 months of existing manual entries on previously reconciled and marked those random entries as ‘cleared.’ That is one of the terminology issues.

I finally manually marked them as reconciled to hopefully get back to even.

Throughout the study of what was wrong I got varying imbalances from $150 to the current $1,200. Pretty bizarre and what I feared and why I have waited years to do this. So much for time-saving!

FYI, I’m no longer at the desk and trying to respond by text. Will have to test your suggestions tmr or Monday.

I keep thinking there are false or dupe entries somewhere but can’t find yet.

Thanks for the help.

NotACPA

"Recon after downloading" means  Reconciling to  the Online  Balance, which is unreliable.

Stick  with your paper  statements.

And a  transaction  that downloads from your bank/card/etc  is, by definition "cleared" ... as  in it has "cleared  the bank".