nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Balance adjustment problem

Richard Esser

A bank account is balanced but when I go to reconcile the account Quicken wants to add a balance adjustment of $2000. I had a lot of missing transactions. I went back over a year and corrected them. Do i have to uncheck all of them and reconcile it month separately?

Find more posts tagged with

Accepted answers

All comments

NotACPA

When you say "corrected them", what exactly did you do? And, in the CLR column of those corrected transactions, what's shown, "R", "c", or " "?

And, if the account is "balanced" (I assume you mean that the Q balance agrees with what the bank shows) why can't you simply refuse the adjustment?

Lastly, is this a brand new account at the bank? Or one that you've had for a while and are just now creating in Q? If you've had it for a while, determining that Opening Balance in Q can get a bit tricky. You need to take the bank statement from immediately before the Q starting date and ADD BACK to it any checks that hadn't cleared by that statement and Subtract out any deposits that hadn't posted. So that when they clear in Q, the amount comes to that shown on the statement.

Richard Esser

The account hasn’t been balanced for a while. I might have lost some data. I started with 12/31/2022 and checked every statement. There were quite a few months where the data wasn’t there. So I entered the data so that month balanced, etc.

Richard Esser

I will fill you in more tomorrow when I open my computer.

Richard Esser

I have had this account since 1989. I remember now that there were times when I couldn't download so I entered them manually. Also I had entries that were entered automatically by Quicken. I found some missing entries and a few that should have been a credit but were entered as a payment.

I guess I shouldn't have checked the items in reconcile. I unchecked them all. Now what should I do. I balanced all the way back to 1/4/2022. Do i need to uncheck back to then and then reconcile from 1/1/2022?

NotACPA

Well, since I'm the "ole auditor", yeah, I'd suggest reconciling from 2022 forward. But do it a couple of months at a time.

DON"T try to reconcile all at once … because if there are any errors you'll be in the same situation as now in trying to find them.

ALSO, backup before you start and backup periodically during the process … just in case.

Richard Esser

should I unreconcile the entries from the 1st 1vin 2022?

NotACPA

If you don't unreconcile, then you can't re-reconcile.

Richard Esser

thanks for your help!

Richard Esser

I will let you know how things come out.

Richard Esser

I went back and unchecked all the transactions until i didn't have any that weren't reconciled. The prior month and the month that I am trying to reconcile show a difference of $180.70. The statement balance on 12/7/2021 $1,882.46 and the statement balance on 1/7/2021 was $2,825.74. When I try to Reconcile it it says the cleared balance is $2,825.74 but the statement ending balance shows $2,3006.46 with a difference. In the old quicken you could put prior balance in. If I could do that it would be balanced. how do I fix this. If I add the$180.72 in my register will be off that much.

Richard Esser

I think that I found the problem with downloading. On I put in the Quicken ID - [Removed - Privacy]. that's the only ID that show up in the ID login. but I have 2 choices for Password? One is my email [Removed - Privacy]. the other is [Removed - Privacy]. I think that I deleted the last ID. Is there a way to retrieve the other ID? I think I deleted it.