Chase Online Balance pending transactions in balance have wrong sign?

jonathan.morgan

Not only am I seeing pending transactions in my Chase account online balances, in some of my accounts, the pending transactions don't have the right sign, so they further skew the information for each account. For example, a payment on a credit card of $100 is being treated in that online balance as an additional charge of $100, rather than a payment. This further skews the balances, and makes reconciling even more challenging. Is anyone else seeing this? Is this a result of a setting I'm not familiar with? Any help will be much appreciated.

Thanks,

Jonathan

JRod

I am having a terrible time with Chase's change too. I've had to keep restoring from backup the last backup without all the mess. I've been trying to reconcile and figure out all the transactions issues downloaded but unable to get all the balances and transactions to match again. I just finished restoring again and just having to enter things manually. What should be a benefit in downloading the transactions is now taking more time by having to enter them manually. If there were a way to control the transactions downloaded to just a week, it would be easier to figure out. Their download resets too many of my register's transactions that have already been reconciled and removes the categories or accounts if related to transfers.

hptasins

I'm seeing this problem too. My "Ending Balance" in the Quicken register for this account is correct, and matches the "Current Balance" on Chase's website. The "Online Balance" in the register is wrong, and is the sum of the "Ending Balance" plus the pending transactions with the incorrect sign.

Jeff97

Agreed and having the same problem. Quicken is taking the Pending Charges and subtracting them (like they are a payment) from the correct current balance and showing that amount as the "online balance" in the reconcile window (where in reality it doesn't need to do anything). Like previous posts, the balance from the Quicken register matches the balance on the Chase website.

Jeff97

(and in fairness, my last post points to the error being with Quicken......it could just as likely be on Chase's end with the error - either way I just hope we can get it solved)

jacobs

Jeff97 said:

Quicken is taking the Pending Charges and subtracting them (like they are a payment) from the correct current balance and showing that amount as the "online balance" in the reconcile window (where in reality it doesn't need to do anything).

No, Quicken isn't calculating the balance when you reconcile using online balance — it is using the balance downloaded from the financial institution. Quicken doesn't know about the pending transactions, because Chase doesn't send them to Quicken, so it can't be removing them from any balance. The problem is on the Chase end, where they are sending Quicken a balance which includes pending transactions which have not yet posted or downloaded to Quicken.

hptasins

> The problem is on the Chase end, where they are sending Quicken a balance which includes
> pending transactions which have not yet posted or downloaded to Quicken.

And they got the math wrong.

But the worst part is that nobody at Chase or Quicken caught this before making us all switch over.

RhythmGuru

I'm having the same problem. The online balance in Quicken for Chase is NOT the online current balance on my Chase account as shown on the web. Nothing is reconciling, even though my transactions are correct. Really need this resolved. It's been about a week maybe?

Joel

I just tried it and it looks to be fixed.

hptasins

Looks ok to me too. I verified that I have some pending transactions on Chase's website, and they don't appear to be affecting the 'Online Balance' in Quicken anymore.

jonathan.morgan

it looks like it is fixed for me, as well. My last sync had no issues, reconciled without problem. Looks like an issue on the Chase side.

jonathan.morgan

meant to say, "looks like it was an issue on the Chase side, now resolved." Accidentally clicked post comment too soon.

JRod

Just to be clear, fix is just for reported online balance but not for issues of all the transactions downloaded which changes existing reconciled records and the categories thus messing up many accounts and balances. Correct?

RhythmGuru

So my Chase credit card online balance is correct now and reconciles, however, my Chase Checking account has the same issue as of this morning. Does anyone else have the same problem still?

checkman

My Chase CC also reconciles correctly and does not factor in pending transactions. I hope my checking acct (no pending transactions) is the same.

jonathan.morgan

For me, I was just talking about the errors with credit card balances (including pending transactions, and then on top of that treating charges as payments, and payments as charges, so breaking the balance entirely). For me, this seems to have been resolved.

For checking, for me, the "online balance" still includes pending transactions, and those transactions have not yet been downloaded because they are pending. I have been manually entering pending transactions to get the account to reconcile, and so far, when those transactions eventually become finalized and downloaded, they've automatically matched to the manual transactions I entered as placeholders, but your mileage may vary on that one.