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Why is it that when I upload banking transaction through Quicken Classic Deluxe that the balance is

itooth

Why is it that when I upload banking transaction through Quicken Classic Deluxe that the balance is different than what my bank says my balance is?

I would think it should be exactly the same to the penny.

BTW, I have compensated for pending transaction also.

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Boatnmaniac

Check the dollar value of the Opening Balance transaction. Has it been changed from what it originally was?

To make it easier to see what the Opening Balance transaction dollar amount used to be, you could restore an old backup file (dated from before when you first started seeing this issue occur).

If the Opening Balance transaction dollar amount in the restored backup file is different from what it is in your current primary file then you know that it was changed. Then all you need to do is correct the Opening Balance dollar amount in the primary file to match what it is in the restored backup file.

itooth

Why would that be the case if I am uploading the transactions from the Bank? Should not all the transaction be seen?

NotACPA

He didn't say it wasn't seen. He said that the Opening Balance might have been changed, due to a bug in Q.

itooth

Perhaps, but how would I know?

NotACPA

https://community.quicken.com/discussion/comment/20495166#Comment_20495166

@Boatnmaniac has already explained that

[Deleted User]

@itooth When was the account opened? When was the last time you reconciled your account? How often do you reconcile your account?

The difference is somewhere and should be explainable.

Boatnmaniac

@itooth - I edited my previous post so it is perhaps a little easier to understand (at least I hope so).

Opening Balance transaction dollar amounts getting changed is an issue that I think started occurring about 2-3 yrs ago and the issue has not been fixed, yet. It occurs when the download connection is changed, via Reset Account, Deactivate/Reactivate or Reauthorize. It can also happen when the download connection is somehow broken and needs to be reconnected via Add Account or Set Up Now.

This is an issue that sometimes happens with Spending Accounts (checking, savings, credit card, etc.)…not always…with accounts that are set up with Express Web Connect or Express Web Connect+ download connections. I do not recall ever seeing it happen with Direct Connect or Web Connect connections.

What many have proactively done is to enter and save the correct Opening Balance transaction dollar amount for these types of accounts into the Memo Field. This makes it very easy to know in the future if and when this issue has occurred and how to quickly correct it.

That all being said, I do not know if this is what is causing the issue you have reported here. But it is one of the more common causes for an account register balance not matching the Online Balance so it is a very good place to start with the troubleshooting. If this issue is the cause and it corrects the problem, then great! If not, there are other troubleshooting steps that can be taken.