Account Balance Issue

This discussion was created from comments split from: Quicken account balances don't match bank balances.


  • Wicked
    Wicked Member

    Just got the new version of Quicken and did a direct download of accounts. It goes back 2 years and starts in the middle of a month. No balances match. Balance is way off. Am I going to have to do manual reconcile back two years? This is rediculous, if it downloads the bank, it should match. I understand a few pending things, but somewhere backing up, things should match. Shouldn't even have to reconcile. I found it missed a deposit three months ago.

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭

    "if it downloads the bank, it should match."

    No, because it doesn't download transactions from the bank from the day the account was opened to "today." The bank itself sets the window of opportunity to download transactions. A common limit is "90 days" so your bank obviously has a much wider window of opportunity than most. The "Balance" shown in the Quicken Account is a calculated number, the sum of all transactions in the register. If the register starts with an incorrect number - maybe $0 and then that "middle of a month" transaction? - it's never going to be correct.

    You need to adjust the "Opening Balance" number in the register to "make up" for all the missing transactions before the 1st middle of a month transaction. If, at this point, you don't care about seeing all the transactions going back 2 years you could delete all the old transactions before a certain point, like 1/1/23 say, enter a correct Opening Balance number as of 12/31/22, and start working with this year's numbers.

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