Reconciliation Confirmation

Tony578

I have used Quicken for years and generally happy with its functionality. However, I would like to suggest a new function applicable to all registers - perhaps called "Reconciliation Confirmation."

In using Quicken I keep all transactions for each register active. This is extremely useful in finding and confirming historical information. The drawback is not only the registers but also the Quicken file become quite large. I manually enter and reconcile all transactions.

Occasionally, for whatever reason (mostly my error) a transaction becomes entered that is incomplete, wrong date payee, etc. causing the registers' "Balance" to inadvertently change. This usually goes unnoticed until the next reconciliation, when it becomes all but impossible to reconcil the register with financial statements. Correcting the problem is quite easy - once the erroneous entry is identified. And there, lies the problem - the registers are so large it is nearly impossible to find the error.

A new function, "Reconciliation Confirmation" could vastly simplify the problem correction. It would work like this:

After each automatic or manual reconciliation and option to document the reconciliation in the register would be available. The documentation would be a register entry showing the time, date, and reconciled register "Balance" as reconciled. Thus, whenever searching for a register entry error, one could narrow the erroneous entry location between the then current unreconcilable "Balance" and the oldest "Reconciliation Confirmation Entry" that matches its corresponding Register "Balance." Perhaps even finding the mismatched "Reconciliation Confirmation Entry" and Register "Balance."

One can do this today by entering the "Reconciliation Confirmation" information in the "Memo" portion of the register, leaving the rest blank. But it is awkward and time consuming. An automated function would be far superior.