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Online balance not matching

JonnyDollar

Online credit card balance (below the register) does not match the ending balance, and the actual online balance on the institution's website. The $5,002.98 balance is the correct balance.

This issue is only with Elan Financial Services. Please see attachment.

Thank you in advance!

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Jeepien

I have the same problem. See similar message Re: Fidelity Signature Visa (Elan)

jharle

You can resolve this issue by changing the connection from Elan Financial Services (which has the cents problem) to Fidelity - Investments & Retirement Accounts as described in

https://community.quicken.com/discussion/7948480/elan-financial-services-cc-502-qwin-edited

Boatnmaniac

Your attachment is missing. Until you have enough Community points accumulated you cannot use the picture or attachment buttons. But you can save a screen shot file to your desktop or to Windows Explorer and then click and drag it to the "Leave a Comment" field.

There are two current issues regarding downloading from Elan. Perhaps one or both of these is the issue you are seeing?:

Click on the following link to see an Alert regarding the "Online Balance" in Quicken showing the correct full dollar amount but the cents are missing: NEW! 3/26/24 Elan Financial Services - Online Balance missing Cents. This issue actually started nearly 2 weeks ago. It used to be that when the Elan account was first set up this issue would be present but it would usually self-resolve within 24 hrs when the next OSU is run. This issue prevents being able to reconcile the account to the Online Balance. But this time the issue is not self-resolving and doesn't go away.
The other issue is something that has been going on for much longer and it is not unique to Elan but it does seem to be a more common issue with Elan than with other financial institutions: When Quicken connects with Elan during OSU to download data, Elan will sometimes download newly posted transactions that have not yet been rolled up into their account balance information. This results in the Elan account in Quicken not being able to be reconciled to the Online Balance. This issue is usually always resolved by running OSU, again, 12-24 hrs later when Elan's system has updated their account balance information.

Issue #1 has a solution….assuming your credit card is the Fidelity Rewards Visa: Change the connection method from Elan Financial Services to Fidelity - Investments and Retirement Accounts. Most people (including myself) have confirmed that his Fidelity connection link is quite reliable and does not have the same dropped cents issue as Elan does. You can read more about this in this conversation thread….see my 1st post on 3/22 for a step-by-step process on how to do this connection change: Re: Elan Financial Services - CC-502 (QWin) [Edited]. (Note: The thread title talks about CC-502 error code. That error code issue has been resolved but it was replaced by this dropped-cents issue so the thread discussion morphed into that. So, if you are confused by comments regarding CC-502, just disregard them and focus on the dropped-cents issue.)

Issue #2 has no solution at this time. It is often referred to as a "timing issue" because at the time Elan downloads into Quicken during OSU it appears that Elan's server(s) have not yet been completely updated to fully comprehend the effect of the prior day's transactions. But it almost always self-resolves when the next OSU is done 12-24 hrs later because Elan's server updates will have been completed by then so complete data is downloaded at that time.

Does it appear that either of these issues is what you are experiencing?

If not, please be sure to attach that picture file or provide more details about what you are experiencing so a more applicable response can be provided.

dblantrip

In my case, the online balance shown in Quicken Classic Deluxe for Windows 11 Home does not match the Chase Bank actual online balance. There is an approximately $2K difference (Quicken balance shows more debt) and only $600 pending charges.

It does not appear to be timing issue because the problem has persisted over several update cycles and weeks. Any suggestions for resolving this discrepancy?

Boatnmaniac

https://community.quicken.com/discussion/comment/20430545#Comment_20430545

Please confirm: Are you talking about the Online Balance shown below the account register in Quicken or are you talking about the current Account Balance shown in the farthest right column of the account register?

Also, check the Opening Balance transaction. Is it correct? You can easily check this by restoring an older backup file (from before when you first started observing this issue)….be sure to give it a unique file name to prevent the restored file from overwriting your main data file. If they do not match, correct the dollar amount in your main data file with what is shown in that restored backup file.

Another thing to check for is duplicate transaction in the register. Scroll through the register looking for duplicates and if any are found, delete one and retain the other. You might need to review as far back as 90-100 days prior to when you first observed this issue.

dblantrip

Yes, Online Balance below the account register.

I'm still not able to figure out what is causing the error. What if I deleted the Quicken account and created it again. Wouldn't all the data from my bank download again (though not as many years as I have now in Quicken) and it would have to be synced up correctly? Any downsides to this approach?

Boatnmaniac

@dblantrip - It is not unusual for the Online Balance in Quicken to be different than the balance shown in the actual online account. This is because many accounts show bank data from the night before OSU. It is not real time data because what was downloaded might not include the current day's transactions. Still, it is odd to have such a large difference for several weeks.

Deleting accounts is usually not productive and doesn't fix problems. And you risk losing older historical data permanently. There are other troubleshooting steps I would recommend taking, such as….(back up your data file before proceeding):

Account Register > upper right Gear icon > Edit Account Details > Online Services tab > Reset Account.
Account Register > upper right Gear icon > Edit Account Details > Online Services tab > Deactivate > Set Up Now > follow the prompts and make sure to Link the download to the account you have already created in Quicken.
File > Validate and Repair File > Validate File > OK: This can find and fix some data issues and also some program issues.
File > New Quicken File > give it a unique name…TEST would be good: Try adding your Elan account in this file. Does the Online Balance look correct here or does it look the same as in your main data file?

These are a few of the things that you might want to try. Why don't you try doing them to see if any one of them resolves the issue for you. Then post the results back here and we can take it from there.