Reconcile issues

System

This discussion was created from comments split from: Reconciling.

Phil In the Woods

I traced a reconcile difference to the online reconcile balance tied to my real-time available balance, including all holds on the account. I paid a bill with card and left a tip, but the preliminary ACH Hold doesn't have the tip included. Quicken did not used to track the available balance, it used the cleared balance at the bank. How do I change the settings to go. back to the "old way" of using only cleared transaction balances?

Phil In the Woods

I am on a Mac using 7.1 May/June 2023

jacobs

@Phil In the Woods There is no setting to adjust. You didn't mention what credit card company you're using, but this problem comes from the financial institution sending the available balance to Quicken instead of the posted balance. Quicken tries to filter out pending transactions if the financial institution downloads them, and adjust the balance accordingly, but they haven't gotten this working yet for multiple Financial Institutions. There is no immediate solution other than using Reconcile to Statement Balance and using an actual monthly statement, or a posted balance which is several days old.

mlittle

Lately when reconciling accounts I'm having transactions from previous months and even years showing up as not checked off in the current reconcile that had been reconciled at that time. It's been happening on all reconciles so far this month.

marconey

I am new to the new Quicken for Mac (after a relapse of almost 20 years!) but bank reconciliation seems to be the most annoying issue for me currently. I don't remember having this issue - at least not this often, when reconciling back then!

I do not enter anything in my Quicken registers manually, it's all downloaded. So I am stumped as to why I have this $12.68 difference between my Online Balance and Quicken Balance! I say, ok, no problem let me look at the transactions listed below in the reconcile window to see if I can clear something. But there is nothing there - all transactions are marked cleared. Several times I have had Quicken enter an adjustment amount so I can complete the reconciliation but I don't like this, as I have no idea where that amount actually came from or where it went🙂

Can anyone shed some light on this? Or point me in the right direction?

jacobs

Sometimes, financial institutions download to Quicken all posted transactions, but an online balance which includes pending transactions which have not posted. Obviously, this puts the reconciliation out of whack.

My recommendation is to try for at least a little while reconciling your monthly bank statement, rather than the online balance, to Quicken. There should be no discrepancies here, because you'll me matching apples to apples — only the posted transactions and posted balance as of the end of your statement month.