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Verity Credit Union credit card issue reconciling online statement

WillDP

With my Verity Credit Union credit card, in Quicken it correctly has the balance as negative as I owe on the card. When I reconcile online, the cleared balance is a positive, like other credit cards I have. But the statement ending balance is a negative, and so the difference is off hugely, making it impossible to reconcile against online. I reached out to the credit union, and they said they had limited Quicken experience, and to reach out to the Quicken community. Have y'all seen this with this credit union or other credit card firms, and if so, do you have any suggestions on resolving it or explaining what the firm needs to do to fix their implementation? Thanks.

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Tom Young

"With my Verity Credit Union credit card, in Quicken it correctly has the balance as negative as I owe on the card."

That is the Balance column has red numbers in it and the numbers have minus signs in front of them. Yes/no?

"When I reconcile online, the cleared balance is a positive, like other credit cards I have. But the statement ending balance is a negative, and so the difference is off..."

It's not clear to me if you are reconciling to a paper statement or to the "online balance" that is provided by the credit union. If you are reconciling to the paper statement then the first screen in the reconciliation should look like this:

Image: https://us.v-cdn.net/6031128/uploads/editor/hs/5osh1ypla8cx.jpg

The Online balance is (properly) shown as a negative but I've typed in the Ending balance as a positive.

Moving on to the second screen in the reconciliation, having cleared all the appropriate transactions, this is the result:

Image: https://us.v-cdn.net/6031128/uploads/editor/2n/avuqi8aeas6j.png

The Cleared Balance is positive and the Statement Ending Balance is positive and the difference is $0.

Is the crux of your problem with the Online balance provided by the credit union comes to you as a positive number?

WillDP

Yes, in the register, the "Balance" is red and negative. I am referring to online reconciliation.

For this credit card, as you can see, the statement ending balance is negative whereas the cleared balance is positive, leading to a difference of adding the two balances together. This is not an issue with any other credit card I have that does online reconciliation.

image.png

Tom Young

The picture you posted seems to suggest you are reconciling to a statement? (I've only had one credit card where - briefly - I had ticked "Reconcile using online balance" and I just don't remember seeing the presentation you've posted, but I could be wrong here.) If you are reconciling to a statement, that suggests you're entering the "Ending balance" incorrectly. If you are instead reconciling to an online balance, then that suggests you're being fed an online balance with an incorrect sign.

Verity Credit Union uses Express Web Connect to download information to Quicken. With Express Web Connect the error could be on Quicken's side (Quicken has to write a specific "script" to gather this information) or on the credit union's side. I'd suggest contacting Quicken support directly here. They should be able to figure out where this "sign" problem originates and get it fixed. In the meantime I'd suggest reverting to reconciling to a paper statement until this is solved.

https://www.quicken.com/support/quicken-support-options

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