Balances not matching

angeliquemarie

I just got charged an overdraft fee because my balances in Quicken are not matching what actually shows in the account. I have had discrepancies showing I have several thousand more in my account than I actually do. I am very frustrated with this software as it continues to "improve". It just keeps getting worse and I am wondering what I am paying for. It is going to cost me more in fees than the software.

splasher

If you are allowing Quicken to "auto-enter" transactions as they are downloaded or do an "accept all" of the downloaded transactions, STOP IT.

Quicken is not smart enough to be allowed to run on auto-pilot. Using Quicken requires work on the user's part to make sure that it doesn't make mistakes.

angeliquemarie

splasher, I understand my responsibility, but until the last year, I NEVER had issues like this before, and I have been using the software since at least 2004, albeit not as long as you.

But when I cannot figure out where the issue is after any given download, that is a problem.

If I wanted to do it all on my own, I wouldn't need the software.

Frank3rd

I too have been using quicken since the late 80s, and until recently (last month or so) I've never had a problem. downloading from the bank is convenient, but not when it's not downloading correctly and messing up the balances. I never had a problem before going online with it

Chris_QPW

If one wants a program to simply mimic what is at their financial institution then they should either be using their financial institution's website/app or maybe at the most something like Mint, mostly just "show me what is in all my online accounts" kind of application.

Quicken cannot be used reliably without the user understanding that checking what was downloaded and entered into the register and reconciling and dealing with any discrepancies is required.

I will take one exception to what @splasher said that "auto-enter" can't be used. It can, but that doesn't remove the same requirements from the user. It is just a different process than what is done with "auto-enter" is off.

With auto-enter is off the transactions go through the Downloaded Transactions tab, and one needs to look at each and every transaction and make sure they are correct before accepting them into the register.

With auto-enter on the transactions go directly into the register, with a status of New or New Match that the process is that the user has to review each and every one of these to ensure they are correct.

Furthermore, there is the requirement of running a reconcile from time to time to ensure that what was is in your register lines up with what the financial institution has.