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Reconcile error on credit card overpay balance

steve mck

When I have paid a credit card over the total balance due (i.e. over paid) and after an online update with auto-reconcile, the reconcile incorrectly tries to adjust the balance by doubling the "over paid" positive balance in a negative messing up the actual balance in the account.

This happens on any credit card account from multiple banks. I am on Windows version.

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steve mck

Seems I posted this in the Mac community. Can one of the admins move this over to Windows? Thanks

UKR

While running Reconcile, to enter an overpaid (credit) balance, you need to enter the amount as a negative number.
When you owe money, you normally enter a positive number of the amount you owe … therefore, when entering a credit balance, a negative number is needed. Quicken will handle the necessary math to flip positive/negative signs.

If you reconcile to Online Balance and the downloaded amount is incorrect, hold off reconciling until you have made additional purchases to eat up the credit balance.

steve mck

Thanks, but I believe this is a BUG in Quicken in that the auto-reconcile to on-line balance should be able to handle a credit (i.e. over paid) balance on the account and reconcile correctly to this over paid balance - rather than suggesting a reconcile "adjustment" of double the over paid amount to bring the balance to the inverse amount of the actual balance.

All amounts are correct from the download and register - it is simply the (auto)reconcile that wants to post a 2x negative adjustment as it is confused with an over-paid balance on the online amount.

splasher

Did you try what @UKR suggested? Quicken is asking how much you OWE. If you have overpaid and have a credit balance, then you OWE a NEGATIVE amount. So, you need to enter a negative amount when doing the reconcile.

steve mck

@splasher I have not tried this because, that is not what I am describing. I am not "entering" anything. This is using the AUTO-reconcile to online balance after an online bank download - the user does not enter any balance, that is provided by the bank download. All that happens is the reconcile dialog comes up, with transactions checked and the balance is pre-populated from the online balance. Then upon clicking "done", Quicken wants to generate an Adjustment transaction that is double the size of the overpaid balance to attempt to invert the credit balance.

Again, nothing is entered by the user - this is using all automated features of quicken and it is confused with an overpaid balance on a credit card. This is not user error, this is system malfunction. Thanks!

UKR

IIRC, Auto-Reconcile to an overpaid (credit) balance amount has never worked correctly.
Unless they have been archived over time, there should be a small number of discussions in the Community on the same subject.
So far, the Quicken programmers have not fixed this rare problem.

My recommendation remains the same as I posted earlier.
Until you add more purchase transactions to your card to use up the credit balance, turn off Auto-Reconcile.
If you must do a manual Reconcile, do so using the monthly statement balance and enter an overpaid amount as a negative number in the Reconcile dialog.

steve mck

Thanks. My original intent was to report this to Quicken as a bug, is there a different method to at least re-report this outside of the community discussions? Otherwise, Oh well, I'll just continue as I have for many years and just delay any reconcile until charges take the balance back into "expected" values.