Quicken and Citibank

TDoyle

Just recently (May 2024) Citibank changed its online interface to download transactions. Since this change when I download transactions into Quicken and go to Reconcile the account, my balance is showing as $10 (which it is not). I call Quicken and nobody knows nothing. I dread calling Citibank because life is too short. Is anyone else having this problem?

Boatnmaniac

Check the Opening Balance transaction dollar amount. Is it correct? If not, correct it. (Perhaps the easiest way to determine what it should be is to restore a backup file dated before when this issue occurred…be sure to give it a unique name so it does not overwrite your main data file. Once determined what that amount should be, make the correction, if needed, and then also enter and save that correct dollar amount into the Memo field of that transaction. Then if a Opening Balance transaction change occurs in the future you will know what to correct it to just by looking at the Memo field instead of by restoring a backup file.)

Another thing to look for is duplicate transactions that might have been entered into the register when you reauthorized your Citibank connection. You should scroll backward about 90 days prior to when you completed the reauthorization looking for duplicate transactions. If any are found, delete one of the two transactions and retain the other.

Also, are Pending Transactions being entered into the register? There are two options for showing Pending Transactions in the register.

1. One option will simply enter the transaction as "Pending" but will not be accounted for in the Balance column. With this option enabled, the current register balance and the Online Balance should be the same. So, this is not going to be the cause of the issue you are seeing. This is the option I have selected so that my register balances remain accurate.
2. The other option will enter the transaction into the register as "Pending" and it will also be accounted for in the Balance column. With this option enabled the current register balance and the Online Balance will not be the same.

You can change your Pending Transactions Preference by going to Edit > Preferences > Pending Transactions: There you can turn OFF Pending Transactions (for all accounts) if you wish or by clicking on Account Settings you can select the Pending Transactions option(s) you want for each individual account.

There are a couple of issues with Pending Transactions that could also be contributing to your account balance issue:

1. Quicken should be deleting Pending Transactions that are downloaded once the Posted Transactions are download but this is not always happening. If you find any Pending Transactions that were not deleted when the Posted Transactions were downloaded, you will need to manually delete the Pending Transactions.
2. Sometimes a Pending Transaction will be downloaded more than one time. When a duplicate Pending Transaction has been downloaded, it will need to be manually deleted.

Did any of this help to resolve the account balance issue for you? If so, which thing was it?