Constant Balance Adjustment Additions & Deductions Since Chase Update

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JimGH
JimGH Member ✭✭
Help! I have been a Quicken users for 10+ years but this issue has me so completely frustrated I'm ready to look for something else. Every since the big Chase update/change whenever I update and reconcile my bank account Quicken inevitably executes a balance adjustment at the end. The problem is that it has become somewhat of a vicious cycle. If the balance adjustment is a deduction this time, next time it is an addition. I have no idea what to do and going threw 10+ years worth of transactions doesn't seem prudent and could be a big waist of time given I have no idea what to look for anyway.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    You should never allow the balance adjustment.  That is basically saying that you can't reconcile, and you are giving up.  Reconciling is the matching of what is in Quicken to what is at the financial institution, and the financial institution has no balance adjustment transactions.  Not finding understanding why you aren't reconciling leads you to repeat it over and over.

    I will take a while guess at what is going on.  You are reconciling to the online balance and there is currently a bug where Chase's online balance is including the pending transactions.  So, at any given moment depending on which transactions are pending you will be off by that amount.  If this is the case the only way to handle it until they fix the problem is to reconcile to the statement balance instead.  Note the "statement balance" can be a balance you see on Chase's web site, the point is to switch to the dialog where you can put in the balance and date to reconcile to.

    Another possibility is that some people are actually reporting that some transactions are missing in their downloads.  If this is the case, well then there are only a couple of ways to work around this. Manual entry of missing transactions or download the Web Connect/QFX file and import that.
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  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited November 2022
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    Some people (myself included) experienced some issues with their Chase account register after reauthorizing the account for the EWC+ connection method.  It sounds like you might have also encountered at least some of those issues.  What you might want to do:

    1)  Restore just about any backup file that is dated before when you migrated to EWC+.   Go to the Chase account register and write down the Opening Balance transaction dollar amount.

    2)  Open your main data account:
    • Back up the file before proceeding.
    • Go to the Opening Balance transaction.  If the dollar amount is different than what you wrote down from the backup file you had restored, change the transaction dollar amount to what you had written down.
    • Scroll down the register to the date about 3 months prior to when you converted to EWC+.  Working from that date toward today, look for another Opening Balance transaction.  If you find one, delete it.
    • Working from about 3 months prior to when you converted to EWC+, look for duplicate transactions that might have been downloaded and entered into your register.  If you find any, delete them.
    • Account balancing transactions you have entered since converting to EWC+:  Delete them.
    • Run OSU and then check your account balance.  Does it now match the online balance that was downloaded?
    • If it does not match the downloaded online balance:  Try running OSU, again, on the next business day and check to see if the register balance and the online balance now match.  (Because of when Quicken pulls data via EWC+ and EWC...at night...it sometimes happens that the data will be pulled before the bank has completely updated their system with the prior day's transactions.  When this happens, the downloaded online balance might not include posted transactions that have just downloaded or might include posted transactions dollars but the transactions themselves did not get downloaded.  This will usually self resolve by running OSU, again, on the next business day or, if it is a business day already, within the next 12-24 hrs.)
    Let me know if this resolves the issue for you.

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