Chase downloads adding payments to balance
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Today the same Chase account is subtracting credit card charges and adding payments to the balance. Completely backwards.0
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Please read this discussion about the new function to include/exclude pending transactions in EWC or EWC+ connected accounts. Applies to R 43.xx or R 44.xx Quicken versions.Somebody from Quicken will have to answer the question about the backwards sign on transactions.
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Thank you for how to exclude pending transactions. I have done that. I must comment that the hourglass symbol is nearly invisible and I would not have ever noticed it without this idea. The reverse math is still a problem. I hope Quicken can answer this before it becomes a global problem for everyone. Other Chase accounts have remained unaffected SO FAR. Validation did not work. Also, deleting and reentering a transaction did not work either. Payments are being added to the balance and charges are being subtracted.0
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I spent two hours in Chat with Quicken Support to not get anywhere with the reverse math on the credit account. It is adding payments to balance and subtracting charges. This account was somehow modified to behave like a bank account instead of a credit account. All of the account settings are for a credit account. I do have a ticket # for this but I will have to wait until I have several hours available to work with support. The main issue it appears to me is that Support could not understand the math wasn't working.0
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Will this help?Sounds like you're running a credit balance. Is the balance in red or black? Look back through your transactions and maybe you'll spot one that was entered backward. Or a payment in the charge column or a charge in the payment column. Look around back where this first started happening. Or maybe you are missing some charges?If the balance is in Black, it means you have a credit on the card. Like if you overpaid the bill or got a refund for something you returned. When you enter a charge it will reduce (decrease) the credit you have available on it. And a payment will increase the balance.Also make sure you have the right starting balance. If it's zero you might need to add a beginning balance for when you started the account in Quicken. I've been reading the opening balance might have got changed during an update or when syncing.The credit card balance you OWE should be in RED. If the balance is Black then it's showing the credit card company owes you and you have a credit balance. And then when you make a payment it's like the cc owes you more. So you need to go back though your entries and find where the balance switched to black to being in your favor.See this for more info…..
I'm staying on Quicken 2013 Premier for Windows.
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Thank you for your advice. I am sure this will help others to determine an issue if they have trouble. I am a retired CPA and well understand this. The software is not functioning correctly. I already performed your suggested steps including validation and super validation. The error is clear when looking at the transactions. They download correctly but do not add or subtract correctly to the balance. This goes back to the very first entry in the account (over 10 years). Every transaction is being added or subtracted in reverse. It results in making the account look like I am owed over $10k when in fact I owe $4k. This was performing correctly until pending activity was downloaded to this account. I am hoping to fix this before I have to resort to a backup and endure hours of rework bringing all my other activity up to date.0
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Please review the Opening Balance transaction in your register. If you recently had to reauthorize your account, a bug in the process may have incorrectly changed or added an incorrect transaction.
To correct a bad Opening Balance restore a data file backup taken a few weeks ago, before all this happened. Restore the file to a different file name than your current data file (you do NOT want to overwrite your current file!). Open the restored file and look at the account's Opening Balance and write down the date and amount.
Now switch to your current file, look at the account's Opening Balance as it stands now. If different, edit the transaction and change the amount to what you have written down.There may also have been duplicate transactions downloaded and added to the register. These duplicates need to be found and deleted.
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.
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I have done that. As I keep repeating, the software incorrectly subtracts charges from the balance when it should be adding them. It incorrectly adds payments when it should be subtracting them. This is very easily seen by looking at the balance column in the register for each transaction. Any modification to opening balances just exacerbates the problem because the software is not doing the math correctly for this one credit account. Duplicate entries are easily found and would not cause this kind of error even though a duplicate may cause a balance to be wrong. I am now going to create a new credit account with the correct opening balance and activate that. I will have to enter a modified amount in the old credit account to zero it out and deactivate it. I really don't like having to do this. Something has occurred to make this happen.0
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CRRen said:I have done that. As I keep repeating, the software incorrectly subtracts charges from the balance when it should be adding them. It incorrectly adds payments when it should be subtracting them. This is very easily seen by looking at the balance column in the register for each transaction. Any modification to opening balances just exacerbates the problem because the software is not doing the math correctly for this one credit account. Duplicate entries are easily found and would not cause this kind of error even though a duplicate may cause a balance to be wrong. I am now going to create a new credit account with the correct opening balance and activate that. I will have to enter a modified amount in the old credit account to zero it out and deactivate it. I really don't like having to do this. Something has occurred to make this happen.Could I trouble you to show us what this incorrect calculation looks like in your register?
Can you please capture one or more images of the parts of your account register showing the issue, sensitive information blacked out as necessary to protect your privacy but annotated to describe the situation, and attach the image(s) here? Include the entire register portion of the Quicken window together with column headers.
https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windowsPlease save images to files of file type PNG, JPG, or GIF only. They're easier to work with than PDF files.
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Now that Quicken has turned off pending transactions in Chase accounts, my issue has corrected itself and my account is now back in balance with the payments and charges correctly subtracting and adding to account.0
