Bank of America started downloading processing transactions
Answers
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Complain to BofA that they are including pending transactions in their downloads. Quicken has nothing to do with the creation of the download or what it contains, it just imports what is provided.
-splasher using Q continuously since 1996
- Subscription Quicken - Win11 and QW2013 - Win11
-Questions? Check out the Quicken Windows FAQ list0 -
I am having exactly the same problem. I'm glad to know I'm not alone. I spent an hour with Quicken tech support yesterday and we tried everything. I'm still not sure they understood the problem. All my accounts are off by the pending transactions amount.
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The solution is to not "reconcile to online balance", i.e. use "paper statement".
Doing a "paper statement" reconcile allows you to ignore the pending transactions.
You don't need to wait for the actual statement, just use the current balance and date from the FI's website and checkoff the appropriate transactions.
-splasher using Q continuously since 1996
- Subscription Quicken - Win11 and QW2013 - Win11
-Questions? Check out the Quicken Windows FAQ list0 -
With all due respect, that doesn't fix the auto reconcile which was working until May 17. It is, rather, a work around. And that's fine as a temporary measure, but we should, as paying customers, have the features that we paid for. Auto reconcile is one of those things that keep me with Quicken instead of an alternative. I've contacted Bank of America tech support and submitted a ticket.
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Yes the problem is that Bank of America is including the pending transactions in the online balance which is causing the automatic reconcile to fail. This just started happening two weeks ago. Before that it has been correct for many years. My workaround is to enter the pending transactions in Quicken manually. When you go to a restaurant the pending amount does not include the tip so that causes more confusion.0
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Online balances not being correct have been an on and off issue for a long time. Having spent as much time as I have on this forum over the years, I've learned not to rely on online balances being correct and have always reconciled to the paper statement and NEVER had a problem.
-splasher using Q continuously since 1996
- Subscription Quicken - Win11 and QW2013 - Win11
-Questions? Check out the Quicken Windows FAQ list0 -
Maybe the Quicken Engineers can adjust the online balance programmatically to remove the processing transaction amounts.0
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@mike12 - the problem is that Q wouldn't know what the processing transactions are - as they are not individually downloaded. The problem is at BofA - THEY are the ones that create the 'on line' balance. There is another thread where Quicken acknowledges there is an issue and they are investigating, but we are all at the mercy of BofA to fix this.
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There is a minority of users that think the download of pending transactions is good, the majority feel that it is bad.
Personally, I think it is one of the worst things that has happened (second only to the exodus of FIs from Direct Connect downloads) that the FIs & Intuit (as the aggregator) have done to the PFM market place.
Vote this thread to abolish download of pending transactions:
-splasher using Q continuously since 1996
- Subscription Quicken - Win11 and QW2013 - Win11
-Questions? Check out the Quicken Windows FAQ list0
