@jmich wrote
Quicken includes pending transactions that it downloads from my checking account in its calculation of the "Online Balance"
You have a misunderstanding here. Quicken does not calculate the “Online Balance”, your bank provides that information. Your bank is including the value of the pending transactions in its calculation of Online Balance but your bank is not providing the transactions (some do, some don't) or Quicken is filtering out the pending transactions just as you requested.
@jmich which bank and what download method? I've been seeing posts here today with this issue from Bank of America and USAA, which both use the EWC+ download method.
For Chase, (and seemly only Chase) you will see pending transactions in the Online Balance in checking accounts (not sure about savings accounts) (not credit card or investment accounts) on the weekends and holdidays. This is why it seems to come and go. If you don't have any pending transactions in your checking account over a weekend/holiday then you will not see the problem.
Here is a post on my evaluation of such problems:
I have had this issue since last October. This has been brought up in other posts as well.
Quicken: please give us some feedback on this issue! Thanks in advance.
You can tell what connection method a given account is using by looking at the top left of the register. Chase is using Express Web Connect +.
Adding to this: my bank is DCU and uses Express Web Connect. Does this have to be fixed by DCU or Quicken?
For Express Web Connect or Express Web Connect + the first step would be to contact Quicken support because the problem can be with Intuit (Quicken's aggregator) or the financial institution and maybe even with Quicken servers or Quicken (the program), as such someone has to look at the logs and get the right parties talking. Note that you can also submit your logs by selecting Help → Report a problem, but the don't provide any feedback for that even though the logs are supposedly go to the developers.
https://www.quicken.com/support#contact-support
I just read this link from the Quicken support bot:
https://www.quicken.com/support/missing-some-transactions-when-downloading-bank
See #4:
Are these transactions still marked as "pending" on your bank's website? Pending transactions have been authorized by your bank but not cleared and paid from your account yet. Most banks don't allow transactions to download until the transaction clears the bank.
I've reported this error and it still persist with USAA. There is no pending transactions option under preferences as some of the quicken responses suggest. Quicken please fix this.
One Step Updates - Incorrect Balance Info
I am seeing the same issue. Accounts won't reconcile if there are pending transactions that day due to the incorrect balance being downloaded.
The system is downloading the current balance from the bank instead of the balance from the end of the day yesterday. Since it only downloads the transactions from the day before, the accounts won't balance because it is adding or subtracting current day transactions in the balance calculation. This has been going on for quite a while.
Quicken please advise on a fix. Mike B; [personal info redacted]
I had a chat with Quicken yesterday. According to the Quicken agent, the issue is with the bank's use of the 'Express Web Connect' connection method. Quicken can only process the data it receives from the bank. In this case, the on-line balance is out of synch with any pending transactions. I don't think Quicken can fix this properly. So how do we convince our banks to fix this properly?
Are you folks reconciling daily to online balance? There is no need to do that. It seems like extra work to me.
I reconcile monthly against paper statements and so there is no issue with pending transactions - ever. IMHO pending transactions and balances which include them should never be downloaded.
If you must reconcile to online balances (which I never recommend), try doing it weekly, on Sundays, when there is less bank activity.
Appreciate everyone's input on this.
I have been using Quicken for decades and reconciling multiple times a week with this issue never being a problem. It started for me when I was forced to change my connection method from Express Web Connect (EWC) to EWC+. Now the online balance is not correct when you have current day pending transactions at the bank. My bank (USAA) says I am supposed to be connecting via "Direct Connect", but the system never gave me an option to choose. My Direct Connect Bank accounts do not have this problem.
Agree, the Quicken help folks are clueless and the USAA folks are the same……both are pointing at the other as the problem. I feel like we are stuck in the middle and have no recoarse to get this issue fixed. I have opened problem tickets at Quicken and USAA w/o even a phone call back. How can we get the Quicken Tech folks and the Bank Tech folks to work together to isolate the problem. Agree with the logic that because this is happening at multiple banks that it is most likely a quicken issue.
Appreciate any ideas on how we can get this fixed. Especially since we all pay for this software annually, we should be getting better customer service.
MMB
Did the Quicken agent give any advice on how to fix this? The help folks at USAA say it is a Quicken issue. How can we get the two parties to work together to find a fix?
Just about every single account I have at multiple banks are reporting incorrect online account balances (other than Wells) and when I try to reconcile, it tells me that there are no transactions to reconcile. I've reset the accounts and done a validate and repair and that doesn't fix it either. If it were one bank only, I might blame it on them but this seems suspiciously like a Quicken issue to me.
I have had reconciliation errors with Capitol One Bank for two months running. Months ending 3/25 & 4/24-discrepancies of -143.78 & +343.83 respectively>these were entered as "Valance Adjustment".
I have confirmed that the entries in Quicken (in the ledger and the reconciliation window) and the bank statements are identical. I used the dates, previous balance, payment amount (from bank statement) and transactions presented in the reconciling window. This confirms for me that no "pending transactions" were a factor in this process.
I do not believe there were any accidentally deleted ledger entries since I have checked previous months using the bank statement.
This is frustrating, especially the amount of discrepancy. I occasionally have found reconciling errors in the past (different banks) and believe them to be a function of that process in Quicken.
Add me to the list. Every USAA account for me has started having this problem. For me, I had success for a long time on EWC+ before things started not reconciling due to pending transactions being included in the online balance. For me, it all began around the March 29, 2023 timeframe.
So, so, so frustrating. I've been using Quicken for 30 years, and with USAA in the same account for 11, and never had an issue as bothersome as this.
I just end up accepting the reconciliation, entering the "balance adjustment", then deleting the balance adjustment.
It's hard to argue with the screenshot below what is happening.
This hits around the issue, but isn't it:
help.quicken.com/display/WIN/Pending+Transactions
Interesting enough, I don't have the "hourglass" symbol by "Ending Balance" as this page says I should (unless EWC is different than EWC+ by chance). Does anyone else have that hourglass?
The kicker is at the bottom of the page, where it says: "Pending transactions are limited to the Register and Account Bar. Pending transactions are not included in Quicken features such as reconciliation, budgets, and reporting."
That is obviously not the case for us right now.
Same issue here. Reconcile only processed transactions in quicken deluxe not pending. It was fixed for a short time.
Same issue for me too, but with another bank (DCU).
