My online balance and quicken account balances not in agreement.

Glenn Dawe

Using Quicken Classic (7.3.2 for Mac OS 12.7) My online balance and quicken account balances not in agreement. They differ by a factor of negative one. i.e. if I multiply one balance by -1 it will agree with the other balance. The online balance for my checking account is showing as a negative number similar to a credit card balance but should be positive

all other accounts seem to work properly, it's just this one account that I'm having problems with.

jacobs

If it's the online balance which is wrong, that suggest it may be your financial information reporting the wrong information, but without seeing some of your screen information, it's pretty hard to suggest what's at play and what to do.

You may want to call Quicken Support; they can share your screen to see what's going on and see if there's something that can be fixed at your end, or if there's a problem with the financial institution which they need to ticket to their connectivity team to look into.

Glenn Dawe

thank you for your reply Jacobs. I think it probably is the financial institution that is the problem. I had tried deleting the account and re-creating it, but it continuously wants to create it as a credit card account and not a checking account.
When first creating the account it asks me for my MasterCard number to logon rather than my debit card so that may be the first indication that something is not right.
I was using this account with Web connect so it was a matter of downloading the files and then synchronizing them with my Outlook files . They seem to work fine, but when I changed over to Quicken connect, that’s when I first noted the problem happening. other accounts at the same bank that are still on Web connect are showing a positive online balance. It is just this one checking account that is showing a negative online balance.

Glenn Dawe

thanks Jacobs . I was able to confirm with Quicken after sharing screens that it is most definitely a problem at BMO (Bank of Montreal). They won’t listen even after asking to speak to their CIO and continue to claim it’s not their problem. I’ll need to continue to download and update transactions manually.

jacobs

Is the problem that the Online Balance when you reconcile is wrong, or that all your transactions are opposite of the proper sign and the running balance is the opposite sign of what it should be?

If the transactions are downloading with the wrong sign — e.g deposits in a bank account are negative instead of positive — then that's a problem with the bank and there's nothing Quicken can do.

I'm unclear if the account you're having trouble with is a bank account or a credit card account. You mentioned debit card, so is it a checking account? In Quicken, in the Settings for the account does it sho the correct account type, or is it showing Credit Card when it's actually checking? That could account for the reversed signs. Does Quicken allow you to change the account type to Checking?

On the other hand, when you refer to the Online Balance being wrong, if you're talking about on the Reconcile screen, there might be a simpler solution: don't reconcile to the online balance, and instead reconcile to a statement balance you enter manually.

Glenn Dawe

I set it up as a checking account (which it is). BMO asks for the credit card you log on to the bank with. I don’t have their credit card but use my debit card for all transactions there. Even though I set it up as a checking account, it automatically changes to CC. Quicken tech tried to correct but said the bank was doing something wrong.
if I simply download the transactions and import, everything is fine. I wanted to switch to “Quicken Connect” (for Mac) to automate the download process. I think I’ll have to stick with the manual download/import method as BMO has no desire or smarts to think they might actually have a problem one of their customers discovered.