how to get quicken for mac account balance to match online balance

kvfritz

My bank account balances are way off compared to the online account balance. For example one account has balance of over -$2400 while the online account is over $1800. Reconcile does nothing. Is there a way to do a year end close out of the account and start fresh at the new year? Suggest to get the account balance accurate? Thanks. (Beta version 7.5.1)

UKR

First look at the account's Opening Balance transaction amount. Does it match the bank statement's Ending Balance for the same date? If not, correct it.

Do you have duplicate, unmatched transactions on your register? For example, one was manually entered, one was downloaded from the bank … drag the downloaded transaction over the manually entered one. This should fix most issues and get your balance closer to being correct.

Finally, if you have ever recorded any Balance Adjustment transactions, delete them.
Now re-reconcile the register with your bank statements until the statement ending date for every month matches the register balance on the same date.

jacobs

Is there a way to do a year end close out of the account and start fresh at the new year?

There is no "year end close" process. But you can start a new file, completely separate from your existing one, if that's what you want. (You'll need to set up anew your accounts, preferences, reports, categories, etc.)

Or… make a year-end adjustment as of 12/31/23 to make your balance in Quicken match your bank statement, and reconcile everything through that date. Then you should have a clean slate moving forward.

But the best alternative is to do as @UKR suggested, and spend some time hunting down the source of the disrepancies, so your past data is as correct as possible, and you won't have problems moving forward.