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Reconciliation Error

cprgolds

Windows: R58.14 Build 27.1.58.14

I have come across this before, but not often. It occurs when I have a positive balance in a credit card account. In this example, the reconciliation panel shows a cleared balance of -61.93 whereas is should show +61.93. The account is in balance and the difference should show a 0.00.

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Reconcile

Windows

Comments

NotACPA

That the balance in your register is BLACK indicates a CREDIT BALANCE. I.E., the bank owes you money.

You input $61.93 as the balance (Q expects this to be a DEBIT Balance, not a Credit Balance.

Input the $61.93 as a negative number (with a minus sign in front) and the issue goes away.

cprgolds

https://community.quicken.com/discussion/comment/20451995#Comment_20451995

Thanks, but that is not helpful.

I did not enter any of these numbers. The credit balance (i.e. cleared balance) in my register is correct. Quicken calculated it.

The -61.93 comes come from my on-line balance as transferred from my bank to Quicken. That should transfer as +61.93.

I'm not sure if Quicken is negating the number or the bank is sending the wrong number.

UKR

It's a long standing issue that Quicken does not seem capable of correctly recognizing a downloaded credit card's Online Balance when it's a Credit Balance, i.e., the card account is overpaid at the time.

For the time being, for as long as the credit card account is overpaid,

either change to Reconcile to Paper Statement and enter the credit balance as a negative number, as was suggested by @NotACPA
or do not reconcile to Online Balance until the credit balance has been used up by new purchases

I'm hoping that, at some point in time in the not too distant future, the Quicken programmers will get a round tuit and figure out how to fix this "overpaid credit card balance incorrect when using downloaded Online Balance" problem.

NotACPA

The Online Balance that the 1st graphic shows is correct, NEGATIVE $61.93. The bank is downloading what they show as the balance, and they owe you money, $61.93. It's a liability from the bank's perspective … not an asset.

Q is also treating it correctly. Your debit account (normally a liability) has a credit balance so it's an asset to you. Thus the black $61.93 that you circled.

Frederick Kurtz

I have an issue, which appears to be very similar to the issue discussed above. For example, I have an account which? I downloaded all of the transactions which included one payment from the bank, and it was entered in Quicken and properly marked. Now, when I went to reconcile, reconciled the account. for instance, in June, it. ballast correctly, however, would I try to balance reconciliate in. July It came up with an incorrect balance. somewhere in there. Quicken all of a sudden. all of a sudden changed the bank. The balance on the account. from a negative balance, which would be proper when I owe a bank money to a positive balance which is not broker, have no idea how I did it. And it's essentially making any sense whatsoever. I spent many hours on the Bay phone with a representative who is not in the US and was somewhat difficult to understand And she even with sharing my screen was unable to come up with an answer She did say that she would get back to me and has never done so quicker. has a major problem, that they need to recognize, investigate and correct.

cprgolds

I appreciate all of the comments, especially from @UKR.

My workaround to this is to wait a few days until that account has a debit balance and then balance it.

With all the discussion, I still maintain that Q is handling this incorrectly and it should be fixed.