Credit Card Reconciliation Will Not Balance -- Any Ideas?

JCC555

I'm at a loss. I'm trying to do the normal statement reconciliation for my credit card and it won't balance (Quicken 2013)

Previous Balance: 3543.15
Charges: 3641.25
Payments: 5166.46
Ending: 2017.94

So, on the reconciliation page I have 71 charges that equal the 3641.25 and the same on the credit card statement (counted them). I have 9 payments that equal 5166.46 on the reconciliation page and the statement page. One of the payments is the previous balance amount.

After reconciling the statement 5 times I have a "Cleared Balance of 1,990.11" and a "Statement Ending of 2,017.94". With a "Difference of $27.83"

I can account for every charge and every payment. I cannot account for the $27.83 difference. Any thoughts? Has anyone every experienced a calculation error with Quicken? I have not manually added up the credit card charges, but I may have to do so.

I'm losing my mind. . . .

Thanks.

volvogirl

Did you get charged any interest?

JCC555

Great question. Never look because I always pay off the new balance. The answer, I am sorry to report, is no.

[Deleted User]

Could your prior reconciliation be off?

jacobs

@JCC555 Just to clarify: are you using Quicken Windows? This thread is in a Quicken Mac category, but since you mentioned Quicken 2013, I'm guessing you're actually using Quicken Windows? 

JCC555

Yes. Quicken for windows. How can I shift it over? Thanks.

Quicken Jared

JCC555 said:

Yes. Quicken for windows. How can I shift it over? Thanks.

Hello @JCC55, 

Moderators can move threads into different categories when it has been requested. I have moved the Discussion to the corresponding Windows category. 

I hope that is helpful!

Thank you,

Quicken Jared 

UKR

Also review the Opening Balance transaction in your register.

About the Opening Balance transaction in your register:

Make sure that the "Opening Balance" transaction in your register
- always is the oldest transaction by Date
- occurs only once in your register
- its amount matches the bank statement balance shown on that day
- if you owe money in a credit card account, the Opening Balance transaction as shown in the register must be a negative amount, e.g., $-123.45
- the transaction is marked "R"(reconciled) in the "Clr" column
- uses the same account name, surrounded by [square brackets], as Category as the account it's in (e.g., Opening Balance transaction in your MyChecking account has Category = [MyChecking]) *

If the Opening Balance isn't correct, your register balance on any given day will never match the bank's balance on the same date and your register will never reconcile correctly.

* that's called a "transfer back into the same account" and is OK. Quicken uses this method to establish the Opening Balance without making it appear as an Income or Expense in any views or reports.