The Cleared Balance is Wrong (windows)

Question

The cleared balance is so high that it required me to do an adjutment of over $2400 dollars. This makes no sense to me. This is a credit card account. The amount of the cleared debits and credits is correct and matches the statement. I reconcile every month and looking back over the past year; it has balanced each time. I have removed any uncleared items. Is it possible that somehow in the download from Citi Bank something is wrong? Any ideas would be helpful.

splasher · Answer

Generally not.  What happens is Quicken uses an Ending Balance (based on the new download) that is incorrect due to transactions not downloaded yet or pending transactions, it sees a difference between that balance and the one in the register at that point in time and then changes the Opening Balance to effect a change in the Current balance.

Now, it is possible that if you have "auto enter" on for downloaded transactions, it snuck some in as "new". when they should have been "matched".

Michelle Trayers · Answer

Good suggestions. Because it is a credit card the first transaction recorded is a charge for less than $50. I have inactivated and reactivated. Is it possible it changed an amount somewhere else?

splasher · Answer

Check to make sure that the Opening Balance in the register was not changed.  Quicken has a nasty habit of changing it if you have needed to de-activate/re-activate the account for One Step Update.

We suggest that you enter the correct opening balance amount in the Memo field of the transaction for future reference.