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Reauthorize "failure"

DickMay

I have reauthorized two accounts (Costco, then Navy Federal CU) where both added an unrecognized dollar amount as the first entry in the register. The first time I contacted support who found the entry which I deleted. This brought the account back in balance. I got no explanation about the entry after a long search for the problem.

This same problem happened again with another account reauthorization. After too much searching on my own, I looked at the first line of the account, zeroed out the amount which brought the account back in balance. Whew!

Does anyone know of this problem? Is support aware of it?

At least I know where to look… now!

Thanks.

Ver: 57.16 on Windows 11 Home

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Comments

Quicken Kristina

Hello @DickMay,

To answer your question, yes, we are aware that sometimes the opening balance changes after you reauthorize an account. For more information, please review this article on the issue. Prior to reauthorizing an account, it's a good idea to put the correct opening balance in the memo field and backup your Quicken file.

I hope this helps!

DickMay

Thanks, Kristina. Tried to download weeks activity on Schwab accounts to Quicken this AM. Quicken told me that Schwab reported I should reauthorize one of my 9 accounts. I reauthorized that account, tried to update again but received the same message. I know that there is activity waiting. Went thru steps again which brought up a request to reauthorize the same Navy Fed account from days ago. Grrrrrr! Any suggestions?

Quicken Kristina

Thank you for your reply,

Typically, reauthorization prompts are caused by Quicken seeing an account with that financial institution that is still connected via the old method rather than the updated method. Since you've been through the process multiple times and you're still receiving reauthorization prompts, I would recommend that you go to Tools>Account List and check to see if the account(s) are getting added as new or linked to an incorrect account in Quicken, since that is the most likely cause of the issue you describe.

If you are seeing extra accounts or accounts linked incorrectly (such as an account that shows the wrong financial institution in the financial institution column), then backup your Quicken file, deactivate the problem account(s), and reconnect the account(s) by going to Tools>Add Account, and following the prompts, being careful to make sure the account(s) get linked to the correct Nickname in Quicken.

Please let me know how it goes!

DickMay

Gave up & reached out for Quicken support by phone. At this point, my Schwab accounts and others were receiving the same message. Tech had me search hidden and/or closed accounts & deactivate, if needed. (none qualified) Then went through all accounts with "the problem" to deactivate, clear institution name and account number. Then re-setup the accounts with Schwab. Things seem back to normal… almost.

In linking the transaction history between Quicken and Schwab, in one account (of 9) a choice popped up asking if I wanted to "convert" a money market fund to act like a sweep account. Without thinking it through, I said yes. Bad decision!!! Now my account in Quicken is out of balance with Schwab, having be summarized into a balance that does not match. I "assume" that the Schwab balance is the correct cash balance (since they hold the actual $$$).

Can you offer a path to redemption and restoration?

(Sorry to be so verbose)

Quicken Kristina

Thank you for your reply,

Since Quicken auto-saves your changes, the simplest way to correct the problem with choosing the wrong option while reconnecting your account would be to restore a backup from before that incorrect option was selected.

I hope this helps!

DickMay

I'm not sure that it helps but it is what I expected. I just was wishing for some magic solution. I wanted to avoid restoring. Since there was only 1 money fund I decided to "fix" the current status to be in balance with the broker and move on.

Thans VERY much for your help.

Quicken Kristina

Thank you for the follow-up,

I'm glad you were able to find a resolution to the issue. While there isn't any simpler solution, there is an existing Idea post requesting an Undo feature:

https://community.quicken.com/discussion/7909585/quicken-for-windows-needs-an-undo-feature

Ideas that get enough votes may be implemented in the future, so I'd recommend adding your vote and a comment if it's something you'd like to see in the future.

Please feel free to reach out if you need further assistance!