Quicken Uses Last Statement Balance vs Current Balance to Reconcile

CoolWhip

I pull my transactions from TD Visa into Quicken. I've been doing this for many years. Recently, I've noticed that after all my transactions are pulled in, Quicken wants to use the Statement Ending Balance, not the “current” on-line balance. So, there’s always a discrepancy.

For example: I have $464.67 in new downloaded transactions. The current on-line balance is $1847.00. With the newly downloaded transactions, my balance will be 2311.67. However, the Statement Ending Balance is $1828.04, so Quicken shows a difference of $483.63.

I am left with 2 options: select Finish Later or select Done. If I choose the latter, it wants to apply the $483.63 discrepancy as a Balance Adjustment which I can then delete but at least all the transactions are marked as “R”. If I select Finish Later, the transactions get marked as “c” and will never become “R” because no matter when I do this, there’s always a discrepancy. I have to manualy label them as R. It was never like this. Quicken always used current the on-line balance. On my TD Visa account, I have the option “Reconcile using on-line balance” in the Online Services tab. Since when did Quicken change on-line balance to be the last statement balance and is there a way to revert back to the current online balance?

splasher

I think your only solution until they get the feed fixed is to use the reconcile to paper statement option and enter the current date for the ending date and what you know to be the current balance from the website.

Personally, I have never used the reconcile to online balance feature since some FIs don't do it right just as you are experiencing with TD Visa and now that they are fooling around with the idea of including pending transactions, it is even worse.

CoolWhip

Yeah, I was thinking about doing it that way but it used to work so nicely. Doing manual reconciliation, I'd have to do it once a month when I get the statement. I really don't know why they changed this. I don't know if this is a bug or if it was designed by intent.

splasher

You can do it any time you have the website up to see what they say the balance is on a given date and use those two pieces of information. You don't need to enter the payments and charges on the Reconciliation screen, just the balance and date.