Why would my Quicken beginning balance differ from last months reconciled ending balance??

Sue Flores
Sue Flores Member
I reconciled last month.I printed my report which confirms the beginning and ending balance and detail. When I tried to reconcile this month - the ending balance (which would be the current month Beginning balance - automatically entered by Quicken. But is not the same as last month-it differs from my report and bank statement.

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Are there any Reconciled transactions that fall after the Reconcile as-of date?  That beginning balance is a calculated, not stored, value that's the sum of all Reconciled transactions in the account.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • lhossus
    lhossus SuperUser ✭✭✭✭✭
    Open up the Accounts > Reconciliation History... for the account in question.

    Looking at the most recent history record you will see Ending Date and Reconciled Balance. These values should match your reconciliation report.

    In addition, the next most recent history record should have a Reconciled Balance that matches the Beginning Balance in you reconciliation report.

    In the History, there is also a Quicken Balance for each reconciliation. This balance is identical to the Reconciled Balance when the reconciliation is in balance. If not in balance, the History will show a non-zero value in the Difference column and will flag the Reconciliation as having a discrepancy.

    It is worth noting that the Quicken Balance is a computed running balance for the account that is basically a summation of all the cleared transactions currently found in the register up to the Ending Date.

    There are instructions at the top of the Reconciliation History:
    If there is a discrepancy in one of the sessions below, click Re-Reconcile to resolve it. Previously reconciled sessions may show a discrepancy if you have added, removed, or edited previously-reconciled transactions (even if it was unintentional).


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