Bank Transaction Download has incorrect Online Balance

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CMCaldwell
CMCaldwell Member ✭✭

When I download transactions from my checking account, the bottom of the register has an "Online Balance". This is not the actual balance, but the balance including pending transactions, which are not downloaded. Quicken Online Help says: "For connected accounts, the online balance does not typically include pending transactions because the bank does not include them in the Online Balance". Then it says, if you balance includes pending transactions…. select the Info icon next to Online Balance and select Exclude pending. There is not an Info icon. Anyone know how to correct this wrong Online Balance?

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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    There is no way for the user to correct an incorrect Online Balance. You need to turn off reconciling to the online balance so that you can enter the correct balance/date.

    See the second answer in this comment for more details:

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  • CMCaldwell
    CMCaldwell Member ✭✭
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    Thanks. I thought it might be a Quicken glitch. I don't use the reconcile to online balance. I have always reconciled from paper statements. But I like to use the online balance that is downloaded to compare to my register balance to be sure I am not missing any transactions, especially since all of the CC-502 errors the last months in downloads.

    My credit card online balances are always correct, but my bank is not.

  • brantleyfamily
    brantleyfamily Member ✭✭
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    Chris_QPW

    By choosing to not use the online balance we are going backwards like 10+ years. I have downloaded and reconciled my accounts for years without any issues until sometime last year when all the download connection methods changed….supposedly was an upgrade. Now, none of my accounts EVER reconcile as there always seems to be a pending transaction in the account for both banking accounts and credit card.

    Whatever the banks did to change the connection methods and ruined the customer experience for Quicken users.

    Quicken seems to not care but they should be working with the banks to fix this. I am seriously considering finding another software that acctually works….unlike Quicken these days. I have tried to discuss the issue with USAA for example and they just point the finger back a Quicken. We are stuck in the middle.

    Mike B.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    @CMCaldwell - Something that I found has been added to my EWC+ spending registers with the implementation of Pending Transactions might be of help to you. Before proceeding you should probably back up your data file.

    Below the Register to the left of the Online Balance, do you see the "i" in a circle?

    If so, click on that and you should get a popup that at the bottom says "Online Balance not right?". Click on that to expand the popup where at the bottom you should be able to select "Exclude Pending" and then click on Save. After I did that Quicken updated the account, again, and the Online Balance was correct.

    I did this a few days ago and there have been some new Pending Transactions downloaded but the Online Balance has remained correct.

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11

  • CMCaldwell
    CMCaldwell Member ✭✭
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    I do not have that i symbol next to my online balance. Also, I did not turn on the new pending feature.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    Ah. Well, it is a long shot but maybe you could turn on that Preference and then go to the Account Register and to see if that symbol next to the Online Balance is present? If it is, then maybe it will allow you to resolve that Online Balance issue. It might not work but I don't think it would hurt anything to try it. You can always turn Pending Transactions off, again, afterward.

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11

  • CMCaldwell
    CMCaldwell Member ✭✭
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    I turned on the Pending preference and still don't have an "i" symbol next to my online balance figure. I closed Quicken. Reopened and downloaded from my bank. Still no "i" symbol.

    I am running Quicken Classic Deluxe on a Window 11 desktop computer. Version 56.9 Build 27.1.56.9

    My bank doesn't use EWC+, it is a direct connect. So I deactivated the One Step Update and set it up again. Still sets up as Direct Connect.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    @CMCaldwell - I should have first asked which connection method your bank is set up with. This Help comment you referenced applies only to EWC and EWC+ connections with financial institutions that support the Pending Transactions feature. So, I had wrongly assumed your bank connection is with EWC or EWC+ because you referenced that Help comment.

    But DC connections do not support the Pending Transactions feature so that Help comment and my prior post are not applicable.

    Do you usually run OSU only in the mornings?

    If you run OSU in the evenings, do you still see this Online Balance issue?

    Or does the Online Balance issue never go away no matter what time of the day you run OSU nor at anytime on future days?

    What is the bank that this issue is occurring with?

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11

This discussion has been closed.