What's Going on with these Accounts?

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So new to Quicken, added 30 accounts. Two are showing incorrect balances. Would anyone happen to know why or how to fix this? I've tried chat support but they've been completely useless (seems to be a theme).

  1. One credit card account is showing a POSITIVE balance of $6,575.94 lmao
  2. One checking account is showing a different Ending Balance vs the Online Balance

All other account balances are perfect. I tried to do some digging but not really understanding how this app works, I don't fully understand what I'm seeing:

  1. It looks like for all of my other credit cards, Quicken automatically created an "Opening Balance" transaction.
    1. Is this how the app gets the balance to be correct since it doesn't have all-time history of transactions? (also, is there any good videos or FAQs that I should dive into around how all of this works?)
    2. And if so, how do I add it? Not sure why it wasn't created for this account? Is this a known bug?
  2. The Online Balance matches the actual live balance. I've confirmed there are no pending transactions and all transactions for Dec match.
    1. Could this be another "Opening Balance" bug where it didn't accurately calculate the amount needed?
    2. And if this is another bug, do i just modify the "Opening Balance" until the "Ending Balance" matches the "Online Balance"?
    3. Or do I need to go through 2 years of transactions to see what the issue is?
    4. Are there known issues around transactions not downloading correctly? Again, brand new account, added for the first time. I've never modified it or any transaction data.

Thanks all! Transitioning from Mint and I have to say that working with Quicken has been one of the most painful things I've had to deal with in a long time. It's all been made worse in that Chat/Phone Support can't actually provide, well, support :-/

Answers

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
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    Did you consider going from Mint to the web based product from Quicken Simplifi ?

    The Opening Balance bug pops up randomly - so after things get correctly balanced - go to your Opening Balance in each account and copy the correct amount over into the MEMO field for safe keeping in case it happens again.

  • WolfieH3
    WolfieH3 Member ✭✭
    edited December 2023
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    @Ps56k2 The plan was to do Quicken, Simplifi & [Removed - 3rd Party Software] all for a year to see which one I liked the best. I honestly wasn't expecting to run into all of these challenges with Quicken. The others have been so easy to set up. Though I prefer the more detailed management of the data in Quicken, but all of the bugs I'm running into, I'm not really seeing the value right now.

    1. So I went through all of the transactions on this credit card. I added an Opening Balance based on the last statement from the month prior to the transactions pulled in. There were a bunch of missing transactions from the following month (guess Quicken stopped importing at a year, even though that was half way through a statement). So I manually added the ones that were missing. But the numbers were still off.
      1. So here's another bug that I found. This credit card splits my interest up into two transactions, one Interest on Balance and one Interest on Purchases. But Quicken is only importing ONE of these. AND it is inconsistent with which of the two it pulls in. So I had to go and add the 2nd missing interest transaction to every single month.
      2. Is this a known one as well? Wondering if I'll have to do this EVERY month going forward…. ugh.
    2. Still in the middle of this one. Now that I have no trust in their import of transactions, I decided to dive into those. I'm in the first month and already found another bug. Looks like Quicken put a transaction from my daughter's checking account into my checking account.
      1. Is this a known bug?
      2. This is my BofA account. I have a checking and a savings. And my two teens have checking and savings. Since I'm linked to theirs, all of the accounts pull in.
      3. I sent my daughter $25 from my checking to her checking. The two transactions in MY account (8888) are "Transfer from Chk 8888" for -$25.00 and "Transfer to Chk 9999" for -$25.00. My account IS Chk 8888.
      4. I confirmed that "Transfer from Chk 888" shows up accurately under my daughter's account as a positive amount.
      5. I confirmed on the BofA site that it does NOT list the -$25 on my account twice.

    These types of bugs are extremely concerning. I'm really started to have NO faith in the accuracy of the data being imported. If I have to manually go through each and every transaction, for every account, every single month, then what's the point of the software?

    And thanks for the tip on the memo field. Going to use it but I'll say that it really should NOT be necessary to do that :-/

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