Most accounts do not properly auto reconcile as expected.

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I have 13 accounts set up: 1 checking, 3 savings, and 9 credit cards. All accounts have the Online Services set: “is set up for transaction download”; “Automatic entry is: Off”; “Reconcile using online balance”. After a One Step Update, I will "accept" any downloaded transactions for each account. Only the Savings accounts will reconcile properly, ie, to "R" status. All other accounts will reconcile to a "c" status. How do I get all accounts to reconcile to an "R" status?

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
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    Hi @Dave Kacoroski

    You raise an interesting question. 

    The easy part of the answer is that auto reconcile feature actually only works with bank accounts that you've activated for transaction download. So that leaves out your 9 credit card accounts.  I am not sure why they did not include credit cards as part of that feature, but I expect it is related to the nature of credit card transactions which, in my view, have more variations in the data and connect with Quicken using potentially less reliable methods than most bank accounts. 

    I cannot say why your checking account does not auto reconcile.  Has that been the case always?  Assuming that it never auto reconciled - it could be that you may not have actually set it for auto-reconcile.  Or it could be that there was/is an issue with a particular transaction that did not create an exact match with the downloaded transaction.  It is impossible for us to say.

    Hope this helps.

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

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  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
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    Frankx said:
    Hi @Dave Kacoroski

    You raise an interesting question. 

    The easy part of the answer is that auto reconcile feature actually only works with bank accounts that you've activated for transaction download. So that leaves out your 9 credit card accounts.  I am not sure why they did not include credit cards as part of that feature, but I expect it is related to the nature of credit card transactions which, in my view, have more variations in the data and connect with Quicken using potentially less reliable methods than most bank accounts. 

    I cannot say why your checking account does not auto reconcile.  Has that been the case always?  Assuming that it never auto reconciled - it could be that you may not have actually set it for auto-reconcile.  Or it could be that there was/is an issue with a particular transaction that did not create an exact match with the downloaded transaction.  It is impossible for us to say.

    Hope this helps.

    Frankx
    Where are you getting the information that credit card accounts can’t be set to auto reconcile?

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the Quicken Windows FAQ list

  • Dave Kacoroski
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    I should clarify... when I accept downloaded transactions the auto reconcile process works perfectly, for any and all accounts. The only difference is the resulting cleared status... savings accounts will be set to "R", while my checking and credit cards will be set to "c". This means for the latter accounts I must then go back and use the individual "Reconcile an account" process to complete the reconciliation update.

    I don't recall this being the case in the past, but certainly has for the last several months (or longer).
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