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Chase update - surprise balance adjustment: change to opening balance

KarstenCali

I had a problem after the Chase update that drove me nuts. On 2 of 3 accounts I had a big mismatch ($7.5K and $1.5K) all of a sudden that required a balance adjustment during reconciliation. Back and forth with Quicken support did not yield much other than the suggestion to compare statement by statement to find out where the mismatch had happened. After going back a few years always finding the same mismatch I checked my opening balances and there you go, for some reason those had changed from 0 to the mismatch amounts. No idea why and how that happened, but setting them back to 0 solved my problem. Did anyone else experience this issue?

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Quicken Jared

KarstenCali said:

I had a problem after the Chase update that drove me nuts. On 2 of 3 accounts I had a big mismatch ($7.5K and $1.5K) all of a sudden that required a balance adjustment during reconciliation. Back and forth with Quicken support did not yield much other than the suggestion to compare statement by statement to find out where the mismatch had happened. After going back a few years always finding the same mismatch I checked my opening balances and there you go, for some reason those had changed from 0 to the mismatch amounts. No idea why and how that happened, but setting them back to 0 solved my problem. Did anyone else experience this issue?

Hello @KarstenCali,

I am sorry about this issue with the Opening Balance being altered after changing over your accounts. Thank you for inquiring about this here on the Quicken Community.

To begin with, would you be willing or able to provide screenshots of what you are seeing with respect to the Opening Balance in the account register(s)? You can consult the FAQ linked here for more information regarding this. Note that you may also drag and drop your image into your comment before you have posted it in order to upload the image. Be sure to remove any personal identifying information where necessary.

Additionally, it would benefit us immensely in our efforts to look into this issue if you could navigate to Help > Report a problem... in the upper menu at the top of the screen in order to submit program log files. You may also submit a brief description of the problem along with any available screenshots. Note that these submissions are purely for investigative purposes, and you will not receive a response through them. We do not have an ETA regarding a resolution. Our teams will investigate this issue further, and we apologize for the inconvenience.

I look forward to hearing more from you about this.

Thank you,

Quicken Jared

q_lurker

KarstenCali said:

I had a problem after the Chase update ... I checked my opening balances and there you go, for some reason those had changed from 0 to the mismatch amounts. No idea why and how that happened, but setting them back to 0 solved my problem. Did anyone else experience this issue?

Yes, numerous other users have reported that problem. Enough so that it should be in the call center's scripts to ask that question or make that check. I don't believe any user has identified the cause. For myself, with just two CC accounts, I did not have that problem.

jdables

I had the same problem with reconciling my account after the Chase update. After checking several Chase statements and comparing to the Quicken balance for same time period, I noticed the difference was always the same. Using a Quicken backup prior to the Chase update, I noticed the Opening Balance had been mysteriously changed in the same amount as I was out of balance. I had to manually adjust the opening balance.

Wendell Smith

I also had the same issue. Three Chase credit card accounts that were updated. All three had the opening balances changed from zero. After wasting hours tracking it down, changing the opening balances back to $0 restored the account balances.

q_lurker

Wendell Smith said:

I also had the same issue. Three Chase credit card accounts that were updated. All three had the opening balances changed from zero. After wasting hours tracking it down, changing the opening balances back to $0 restored the account balances.

That is a primary reason all (?) my accounts start with a $0 opening balance OR I enter the proper applicable value in a memo field or a reminder transaction.

taterheart

Yes, I had the same issue. Took me awhile to figure it out, but my opening balance should have been zero, but it was a credit to the account. The only way I could find this thread, though, was by searching for "Chase Opening Balance". Searching for Chase alone didn't do it.