Why is my reconciling suddenly gone wrong ?

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I have always reconciled my bank account to the penny, it shows discrepancies in the history, but the balance is nil on the window, the few that are there have a debit and credit that resolve themselves.

Now when I go to reconcile an account its showing 254 out, I have tried all sorts of things with my opening balances but its never right. on my history its shows the last one as being correct, so why is it now suddenly out ??

I have spent ages on this now and just got now where, but I really dont want to put an 'adjust balance entry thru as I know its shouldn't need one !! I have even gone back to some old back up files and there is still showing an out of balance figure !

doesnt help with this account as I issue cheques as prizes and some people never cash them, or take ages to cash them !!

Help as I now have 3 months worth of figures to enter and getting no where with it !

Answers

  • RalphC
    RalphC Member ✭✭✭✭
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    Well, there's no magic bullet fix but going back three months is not the worst scenario. If the account(s) balanced at one point in time, there's no doubt that there's an entry error(s) or omissions in your data file. To find it/them, I'd restore a known-good data file from the last good reconciliation. At this time, note the opening balance and enter it into the Memo field. Then, using financial institution statements, enter missing transactions and reconcile. Missing or uncashed checks shouldn't matter. Your balance will not agree with the bank as the bank hasn't seen the checks to date. But, you must carry them until they get cashed or age out.

  • Stephen Duxbury
    Stephen Duxbury Member ✭✭
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    I have tried about half dozen back ups and they all have out of balance figures, have gone back to May last year and still out!! Doesn't help that its not populating the opening figure like it used to, but then I would only use the figure from the bank statements.

    when I do a bank rec I always do it to the exact penny, I learnt a long time ago that I would never click yes unless its spot on. So I know my figures are all correct otherwise I wouldn't have done the rec !! If I put in an 'adjust balance' figure firstly what can I code it to but more importantly why should I have too !!

    Thanks very much for your response though !

  • dan.greenberg.ct
    dan.greenberg.ct Member ✭✭✭
    edited May 12
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    Check the register for any system added adjusting or placeholder entries that may not be needed. I forget what they're called but I believe they are typically gray and are likely toward the bottom of the register.

  • Quicken Kristina
    Quicken Kristina Moderator mod
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    Hello @Stephen Duxbury,

    To help troubleshoot this issue, could you please provide more information? Is this happening with connected accounts or with accounts you track manually? When performing the reconcile, are you comparing to the Online Balance, or are you comparing to a Statement Balance? Which financial institution(s) is this happening with?

    I look forward to your reply!

    Quicken Kristina

    Make sure to sign up for the email digest to see a round up of your top posts.

  • David42Keene
    David42Keene Member ✭✭
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    I have had the same issue 3 or 4 times in the last year. A reconciled balance is suddenly out of balance. I've spent hours trying to find the errors, including the suggestions above. If Quicken doesn't find a solution I need to find a solution that doesn't involve Quicken. It will be less work to move to another application than have this keep happening. Quicken hasn't always beent his way. This is a fatal flaw. I can't keep posting 'adjusting entry' because Quicken is broken. And dont' tell me to go back to a reconciled backup and then update the transactions since that date and reconcile again.

  • David42Keene
    David42Keene Member ✭✭
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    Why can't Quicken provide a "lock period" function?

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited May 20
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    Post an idea on your subject … and see if other users support it. That's how new functions get brought to the attention of the developers.

    Be as specific as you can in the suggestion.

    And, I thought that there used to be an action where you could "lock" an account register prior to a designated date. Such wouldn't completely prohibit older transactions … but would warn you when you were doing so. But I can't find that now.

    The closest that I could find was EDIT > Preferences > Notify and checking "When entering out-of-date transactions". Which, I suppose is pretty close to what I'm remembering.

    [EDIT] I just now realized that this is a QMac thread … and such functionality might not exist, or might differ, in QMac [/EDIT]

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Jon
    Jon SuperUser, Mac Beta Beta
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    @David42Keene There is a Product Idea thread for Quicken Mac to add a lock feature for old transactions:

    You should add your vote to it.