Checking account Balance incorrect

My main checking account is where I complete most of my transactions and its with Wells Fargo. I have established a direct connection with the bank but still having issues with balances.

Any ideas? I really want to track my spending, saving, investments, loans etc as I want to make our money work more for us.


  • UKR
    UKR SuperUser ✭✭✭✭✭
    How about manually comparing each and every transaction in your account register to the printed bank statements? That should ferret out any discrepancies. Delete duplicates, insert missing transactions, correct any other types of errors.

    Also 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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