Account Balance Mismatch After Importing Historical Data

janderson

Firstly, I'm very new to Quicken and could just me using the program incorrectly. I've attempted searching for this issue already and couldn't find a related issue, it is entirely possible that I'm not searching for the correct issue, my apologizes for that.

I'm on Quicken for Windows Premier. I'm working to get all my accounts added. If I go through the Direct Connect method only, my balances are accurate. However, doing so, my bank (Huntington) only provides the last 90 days of transactions. So, in addition of the Direct Connect, I exported my accounts all the way back to August of 2021, and imported that into Quicken via a Web Connect file (.qfx). In doing so, I get all the transaction since August of 2021, great! What's not so great is that my Huntington account balances are inaccurate. Some showing a value higher and others showing a value lower than the actual balance.

Is there something I'm doing wrong here? Since the manual import there are a few transactions that aren't categorized, however, the sums of those transactions don't even come close to the difference of balance Quicken shows and what Huntington shows.

Any help would be appreciated! Like I said, I'm very new to Quicken, just bought it last week, so it is entirely possible that I'm doing something incorrectly.

Having the transactions from 2021 isn't a huge deal, it would just be nice to have that data in there for historical reporting and budgeting. If I can't come to a solution, I'll just revert back to the Direct Connect only method, and only have the last 90 days of transactions.

Thanks for your time!

splasher

Whether a transaction has a category or not does not change the ending balance.

I'm guessing that while doing the manual import, you probably got some duplicate transactions, so check for those.

The other thing is did you readjust the Opening Balance after the manual import?

See this FAQ for the overall process of importing older transactions:

https://community.quicken.com/discussion/7160091/faq-download-old-transactions

Boatnmaniac

Since you first set up downloads with DC and later downloaded older transactions via WC, I suspect you have multiple Opening Balance transactions in your registers. There should be only 1 Opening Balance transaction in each account and that would be the very 1st transaction. If you find any more recently dated Opening Balance transactions, delete them.

And I agree with @splasher. You might have some duplicate transactions due to overlapping date ranges of the various downloads. When looking for duplicates, do not focus on the Categories (or lack thereof) of the transactions because that has no bearing on the account balance. Instead, focus on the date, the Payee and the dollar amount of the transactions. If you find any duplicates, decide which one you want to keep and delete the other(s).

splasher

Whether a transaction has a category or not does not change the ending balance.

I'm guessing that while doing the manual import, you probably got some duplicate transactions, so check for those.

The other thing is did you readjust the Opening Balance after the manual import?

See this FAQ for the overall process of importing older transactions:

https://community.quicken.com/discussion/7160091/faq-download-old-transactions

Boatnmaniac

Since you first set up downloads with DC and later downloaded older transactions via WC, I suspect you have multiple Opening Balance transactions in your registers. There should be only 1 Opening Balance transaction in each account and that would be the very 1st transaction. If you find any more recently dated Opening Balance transactions, delete them.

And I agree with @splasher. You might have some duplicate transactions due to overlapping date ranges of the various downloads. When looking for duplicates, do not focus on the Categories (or lack thereof) of the transactions because that has no bearing on the account balance. Instead, focus on the date, the Payee and the dollar amount of the transactions. If you find any duplicates, decide which one you want to keep and delete the other(s).

janderson

Thank you @splasher and @Boatnmaniac! I followed the FAQ that was linked, adjusted the Opening Balance to prior to the manually imported transactions, and adjusted it's amount. Now all the accounts are showing accurate balances!