American Express reauthorization: erroneous reconciliation record added
Quickrfg
Member ✭✭
I have not seen this issue reported, so I am documenting it here.
The first time I attempted the reauthorization, Quicken seemed to download approximately six years of data (based on the message Quicken displayed at the end of the processing). The account balance was unrecognizable. I restored the file backup.
The second time, I looked more carefully to identify duplicate transactions. I found none. Instead I found a reconciliation record at the top of the file (matching the date of the first record, the date the account was opened). This record, with a very large amount, was equal to the difference between the new current balance as calculated by Quicken and the actual balance (the balance as it existed before I executed the reauthorization, and the balance as shown by American Express).
I changed the reconciliation status of the record so that I could delete it. After deleting the record, the account balance and the account records are now accurate.
The first time I attempted the reauthorization, Quicken seemed to download approximately six years of data (based on the message Quicken displayed at the end of the processing). The account balance was unrecognizable. I restored the file backup.
The second time, I looked more carefully to identify duplicate transactions. I found none. Instead I found a reconciliation record at the top of the file (matching the date of the first record, the date the account was opened). This record, with a very large amount, was equal to the difference between the new current balance as calculated by Quicken and the actual balance (the balance as it existed before I executed the reauthorization, and the balance as shown by American Express).
I changed the reconciliation status of the record so that I could delete it. After deleting the record, the account balance and the account records are now accurate.
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