Check Pay - posting date vs Cleared vs Reconcile (edit)
I like the Check Pay feature, except it enters a fixed date for the transaction in my Quicken account. The check does not clear Chase Bank until several days afterwards. My balance in Quicken will not reconcile with the bank until the check clears. So, I have to put a balance adjustment into Quicken to offset the check, because the date in Quicken is fixed. Why can't the date be changed?
Comments
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Just do not mark the check as cleared or reconciled while it hasn't been cashed yet and your account will balance without needing any adjustments.
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But the balance in the register will not be correct.
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If you exclude checks which haven't been cashed yet (aka haven't cleared the bank yet) from your balance, then the adjusted balance as of this moment will match the bank's balance.
For example:
Bank balance shows $1000.00 … they don't know about 1 check $200.00 that will be cashed in a few days
Register balance $800.00 plus 1 uncleared check $200.00 = $1000.000
