How do I reconcile Property and Debt? Thank you.

JayH6 Member ✭✭
The balances in some of my accounts are off!


  • Quicken Jared
    Quicken Jared Alumni ✭✭✭✭
    The balances in some of my accounts are off!
    Hello @Jay E Holderer

    I am sorry about this problem with account balances that don't match. Thank you for discussing this with us here on the Quicken Community.

    In order to be of the best assistance, we will require some additional context. Are you trying to reconcile to online balances or to a particular statement? Which financial institution(s) are the accounts associated with? Also, how often do you save backups? We recommend saving backups often, so that they are available for restoration in order to help with issues reconciling accounts. For reference, you can save a backup anytime by navigating to File > Copy or Backup File... in the upper menu at the top of the screen, and you can restore a backup by navigating to the same menu and selecting File > Restore a Backup...

    I look forward to your reply. 

    Thank you,

    Quicken Jared 
  • JayH6
    JayH6 Member ✭✭
    Hi Jared, The financial institution is American Education Services. Yes, I do back up my data.
  • Quicken Jasmine
    Quicken Jasmine Moderator mod
    Hello @Jay E Holderer,

    Thank you for responding and for providing more information. 

    First, I suggest creating a test file and adding the American Education Services account(s) to see if it produces the same issue with your balances being incorrect. It is recommended to save a backup before proceeding with troubleshooting steps in the event that you would like to return to your original starting position. Below are instructions on how to create a test file:
    1. Choose File menu > New Quicken File.

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Select New Quicken File.

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Click OK.
    2. In the File name field, enter the name of the new file, then click Save. Use a name like "Test File" to tell it apart from your main file. 

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows
    Don't use any of these characters: * ? < > | " : \ / (asterisk, question mark, left and right-angle bracket, pipe, straight quotation marks, colon, BACKSLASH, FORWARD SLASH). Also, don't add the .qdf extension; Quicken does that for you.

    1. Sign in with your Quicken ID. If you are prompted to create a Quicken ID but already have one, click Sign In under the Create Account prompt. 

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Select to not use Mobile.
    2. Click Add Account to start adding accounts to the new file.

    After adding accounts, see if you are experiencing the same problems in this test file. 

    Please let me know how this goes, I look forward to hearing your response. 
    -Quicken Jasmine
  • JayH6
    JayH6 Member ✭✭
    Instead of doing this can I just reconcile the account? It would be so much easier.
  • @Jay E Holderer - is it a loan account(s) you are trying to reconcile?
  • JayH6
    JayH6 Member ✭✭
    Yes, it is a loan account.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    What type of loan?  The rules are different for LOC & HELOC accounts which are treated like credit cards in Q.
    For other loans, are you downloading into this account from your lender?  If so, ONLY the downloaded transactions PRINCIPAL ONLY payment can post to the account.  If you're downloading, you won't even be able to see the loan account register.
    Also, when was the last time that you successfully reconciled this account?  Does the amount on that statement still match with the appropriate amount in Q? 
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • JayH6
    JayH6 Member ✭✭
    I guess it seems as though there is no way to reconcile a loan account.
  • @Jay E Holderer  reconciling a loan account is just simply making sure your loan balance on Quicken agrees with what your financial institution shows as the loan balance.  How it's done, or how you do it, depends on many factors.  If you give us some additional information, such as what @notacpa asked, we might be able to better help you.
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