Chase online balance issue

marksj947a2v

For the past two weeks, my Chase credit card online balance has not matched with my balance on Quicken. I was able to ID the transactions that added up to the discrepancy. These transactions were reconciled "R" on both my Quicken register and online at Chase. Really strange. To make a long story short, I was scrolling thru my entire history on this card, and found this exact total listed in 2019 as the opening balance of the credit card when I received it. So, that was the issue and when I deleted this, everything was now balanced. Just wondering if anyone in the community has ever experienced anything similar. This was so random and just plain strange! Have never had an issue like this in my many years using Quicken. Any comments would be much appreciated! Thanks…

Boatnmaniac

@marksj947a2v - It is a very well known issue for some time now that when making a change to the connection method (i.e., Reset Account, Deactivate/Reactivate, Authorize/Reauthorize) of Spending accounts (i.e., Checking, Savings, Credit Cards, etc.) the Opening Balance transaction dollar amount sometimes gets changed. I think (and I'm not a technical expert and this is an oversimplification) that this might sometimes happen because Quicken was previously getting data downloaded with one ID but the new or updated connection downloads it with a different ID so Quicken thinks the initial new or updated connection download is, at least in part, a new account. It would also possibly explain why a connection method change also sometimes enters duplicate transactions into the register. I'm sure it's more complex than this but for now, at least, it works for me.

What is commonly recommended by both users and Moderators in this Community forum: For ALL Spending accounts enter and save the Opening Balance dollar amount into the Memo field of that transaction and then backup the data file. This is a proactive step that makes it very easy to identify when this issue has occurred in the future and to know how to quickly and easily correct it.

Boatnmaniac

@marksj947a2v - It is a very well known issue for some time now that when making a change to the connection method (i.e., Reset Account, Deactivate/Reactivate, Authorize/Reauthorize) of Spending accounts (i.e., Checking, Savings, Credit Cards, etc.) the Opening Balance transaction dollar amount sometimes gets changed. I think (and I'm not a technical expert and this is an oversimplification) that this might sometimes happen because Quicken was previously getting data downloaded with one ID but the new or updated connection downloads it with a different ID so Quicken thinks the initial new or updated connection download is, at least in part, a new account. It would also possibly explain why a connection method change also sometimes enters duplicate transactions into the register. I'm sure it's more complex than this but for now, at least, it works for me.

What is commonly recommended by both users and Moderators in this Community forum: For ALL Spending accounts enter and save the Opening Balance dollar amount into the Memo field of that transaction and then backup the data file. This is a proactive step that makes it very easy to identify when this issue has occurred in the future and to know how to quickly and easily correct it.

marksj947a2v

Boatnmaniac - thanks so much for the response! I really appreciate it…