Trouble with reconciling

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I'm using Quicken Classic for Windows. Issue seems to have started in last couple of months but unclear if tied to an update. Here is generally what occurred. I reconcile my checking account every month and download transactions via direct connect with my bank. At end of April 2024, everything reconciled. In May, I had a series of transactions as follows. I deposited a check for $3850 early in the month. Two weeks later, I transferred the money ($3850) to an outside account. By mistake I hit transfer twice so on May 14th $7700 of money actually transferred out. Realizing my error, I decided to wait a week for transfers to clear. Then I transferred $3850 from the external account back into regular checking account.

When I went to reconcile first of June, my Quicken account kept showing a balance of $3850 less than my bank statement. I re-downloaded several times. I confirmed balance with my bank. I confirmed all transactions of this amount appeared correctly in register, but no matter what I did, it did not reconcile. I even deleted all four May transactions of $3850 and then reconciled again. Quicken register still showed balance $3850 less than my bank.

I tried unmarking all of May transactions and re-reconciling but no change. In the end, the only thing that worked was to modify the quicken registers opening balance, which oddly appeared as -$3050 way back in year 2009. So I updated that to read as $800, thus changing 15 years worth of balances by $3850. I reconciled again and everything came out even as expected.

Anyone else experience this. Did my opening balance somehow get modified?

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    From time to time and for reasons no one can explain Quicken does change the Opening Balance of an Account. There have been certain periods in the past when this complaint was reported by numourous users. As a result of this, many SuperUsers have recommended that you enter the correct Opening Balance dollar amount in the Memo field of the Opening Balance transaction. I've even gone so far as to create a $0 transaction dated as of the date of the Opening Balance entry with the dollar amount of the correct Opening Balance in that transaction's Memo field.