when I went to reconcile, my opening balance was not my last month's ending balance

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Marilyns
Marilyns Member ✭✭

I left 2 days after my expired quicken subscription lapse before I purchased a new one.

Could this be the reason my opening balance on reconciling is not the same as my ending balance from last statement (that I had reconciled)

Best Answer

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited August 2023 Answer ✓
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    The opening balance is a calculated, not stored, amount. It's the sum of all transactions in the account that are Reconciled (an R in the CLR column).

    So if you changed any R transaction by:
    Amount
    CLR value
    deleting an R transaction
    adding an R transaction

    Your Beginning Balance will change.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited August 2023 Answer ✓
    Options

    The opening balance is a calculated, not stored, amount. It's the sum of all transactions in the account that are Reconciled (an R in the CLR column).

    So if you changed any R transaction by:
    Amount
    CLR value
    deleting an R transaction
    adding an R transaction

    Your Beginning Balance will change.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Marilyns
    Marilyns Member ✭✭
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    Thanks!!!!

  • wzimmer3
    wzimmer3 Member ✭✭
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    where can I see the computation of the opening balance in Reconcile? If I can’t see how it is computed, how can I change it?

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
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    where can I see the computation of the opening balance in Reconcile? 

    It's the sum of all transactions in the account that are Reconciled (an R in the CLR column).

    If I can’t see how it is computed, how can I change it?

    You can only change it by adding, deleting, or editing transactions with a Clr status of 'R'.

  • wzimmer3
    wzimmer3 Member ✭✭
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    This seems to happen after an update - these tend to click my brokerage accounts from complete to simple tracking. Then when I go into Edit Account Details to re-click on Complete - the next time I reconcile cash, the opening cash is incorrect. Thoughts on how to prevent?

  • wzimmer3
    wzimmer3 Member ✭✭
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    Found it! Thanks for the lead - Quicken had posted an adjusting entry. upon deleting, opening cash was correct.

    Thanks!

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