Bank interest shows 1st day of the month on download - but it's actually last day of prior month

qcudjdenver

We have 7 checking and savings accounts (me, wife, kids) with a bank. On the last day of each month, we receive interest on our balances. On the bank web site, it shows it is paid on the last day of each month. But when I download the transactions, it ALWAYS shows that the transaction takes place on the first day of the next month. It is a reconciliation nightmare, having to duplicate with a manual transaction, and then deleting the downloaded transaction. Has anyone found a way to fix this?

jacobs

If you click on one of the interest transactions and select View > Show Inspector, I'm sure you will see the Date Posted is the first of the month. This is the date your bank is sending to Quicken, and that Quicken uses when reconciling. There is no way to change the posted date sent by the bank, because that is considered immutable fact.

But there's an easy way around this. When you start your reconciliation, instead of entering the last day of the month as the reconciliation date, enter the first day of the next month. This way, Quicken will include transacitons posted on the first in the reconciliation window. If there are any bona fide transactions on the first, just leave them unchecked in the reconciliation window. Now your reconciliations will work, with no extra work on your part. 😀

qcudjdenver

I guess that makes sense, and maybe it is just a lifelong habit that my bank and investment accounts always ‘end’ on the last day of the month, yet credit cards use any Willy-Nilly day they choose. I’ve been using Quicken since Day One, so there may be a habit to overcome. Thanks.

jacobs

@qcudjdenver Yup, all you need to adapt to is entering a statement ending date a day or two later thjan what's printed on your actuak bank statement. Then everything will work as expected. 😀