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12/4 Wells Fargo new connection works BUT beginning balances all wrong

ClaudiaPDX

Today's email gave Wells Fargo users until later this month to reconnect to Wells Fargo. This hasn't been working for me for YEARS (pushed 6 separate files from WF to Q rather than having Q pull all at once) so was delighted when it worked! EXCEPT the beginning 2013 balances of two of my six accounts are completely wrong. I had to back out and restore the previous version. Now what? go back to pushing from WF, one account at a time? Q Classic Windows desktop version

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Boatnmaniac

(EDIT: Added clarification in italics for #1 below.)

I got that email from WF today and reauthorized my EWC connected accounts to EWC+ in two different test files. The process worked smoothly and perfectly for me. Sorry to hear your experience wasn't quite that good.

There are few known issues that sometimes happen when the connection method gets changed:

The Opening Balance dollar amount gets changed. What you can do is restore a recent backup file and make note of the Opening Balance transactions dollar amounts shown there. Then enter and save the Opening Balance transaction dollar amount into the Memo field. Then do the reauthorization. If the issue does occur during reauthorization it will be very easy to see it and correct it.
Duplicate transactions get entered into the register. When this happens they will usually occur within the prior 90 days or less. The only thing that can be done to correct for this is to scroll through the register looking for duplicates. If any are found, keep one of them and delete the other.
A 2nd Opening Balance transaction gets entered. This doesn't happen very often but if #1 and #2 do not bring the account back into balance you should scroll through the register to see if there is a 2nd Opening Balance transaction (one that does not have a dollar amount entered into the Memo field). If one is found, delete it.

One or more of these things will usually resolve any account balance issues that occur when the connection method is changed.

What now? Enter and save the Opening Balance transaction dollar amount into the Memo field in each account register. Backup your data file. Try the reauthorization process, again.

All comments

Boatnmaniac

(EDIT: Added clarification in italics for #1 below.)

There are few known issues that sometimes happen when the connection method gets changed:

The Opening Balance dollar amount gets changed. What you can do is restore a recent backup file and make note of the Opening Balance transactions dollar amounts shown there. Then enter and save the Opening Balance transaction dollar amount into the Memo field. Then do the reauthorization. If the issue does occur during reauthorization it will be very easy to see it and correct it.
Duplicate transactions get entered into the register. When this happens they will usually occur within the prior 90 days or less. The only thing that can be done to correct for this is to scroll through the register looking for duplicates. If any are found, keep one of them and delete the other.
A 2nd Opening Balance transaction gets entered. This doesn't happen very often but if #1 and #2 do not bring the account back into balance you should scroll through the register to see if there is a 2nd Opening Balance transaction (one that does not have a dollar amount entered into the Memo field). If one is found, delete it.

One or more of these things will usually resolve any account balance issues that occur when the connection method is changed.

What now? Enter and save the Opening Balance transaction dollar amount into the Memo field in each account register. Backup your data file. Try the reauthorization process, again.

dalrad1

Will the new Wells Fargo connection matter be resolved soon?

ClaudiaPDX

https://community.quicken.com/discussion/comment/20401346#Comment_20401346

Thanks. Unfortunately I do not have records showing bank balances in 2013. I've restored November's file to look them up so I can then follow option 1 (hopefully). Just wanted to alert programming team. I wish I had the $200k it said I had! Note: once I opened November's file with the intention of it becoming my std data file, I couldn't find a command to do so. Any problem with saving a copy of the backup file I want, then closing Q and renaming that copy as Data? It seemed to work but was awkward.

Boatnmaniac

https://community.quicken.com/discussion/comment/20401359#Comment_20401359

This issue is not a WF issue. It is a Quicken issue where sometimes Quicken mishandles connection method changes. It can happen with any financial institution. I know the Quicken team knows about it but I do not know what they might be planning/doing to fix it. Suffice it to say that this issue has been going on for some time (many months if not a year or more) so I do not anticipate that it will be resolved soon.

My message above is not intended to cause anyone to delay the EWC—>EWC+ reauthorization. It is simply intended to help those who do experience one or more of the account balance issues noted above resolve those issues. WF has stated in their email that we have just 2 weeks to complete the reauthorization process. If we do not complete it in that within that time frame our accounts will become deactivated. So, IMO there really is no benefit in not completing the reauthorization process now.

And I want to reemphacize that these account balance issues only crop up sometimes when changing connection methods. In most cases, these issues do not occur at all…just like it did not occur for me in 2 different data files.

Boatnmaniac

https://community.quicken.com/discussion/comment/20401362#Comment_20401362

Ah, I see I left out an important detail in my earlier reply to you. I'm glad you figured out that the way to get the correct Opening Balance transaction dollar amounts is to restore an earlier backup file (or "open an earlier file") and use that file for your new standard active file going forward. Or you can make note of the correct Opening Balance dollar amounts and then update your standard file. Either method works. I've edited my earlier post to reflect this.

Yes, you can rename the backup data file in Windows Explorer. Then just double click on the renamed file to open it so it will not overwrite your main data file. I have done that many times myself and it works very well.

Did I answer your question or did I misunderstand something?

ClaudiaPDX

Thanks, Boatnmaniac!