Add a new value for "Pending" for the Cleared Status field

xingeranium

There are many discussions about pending transactions so I don't know if this has been suggested before or if there are any similar Ideas that can be up-voted:

The current values for the Cleared Status field are "Cleared" (blue checkmark), "Reconciled" (green checkmark), or "Neither reconciled nor cleared" (no checkmark). Add a new value for "Pending" (red? checkmark or question mark).

From what I've seen in the discussions, some institutions include pending transactions in their downloads — if these transactions can be distinguished, simply set their Cleared Status to Pending.

Other institutions do not include pending transactions in their downloads, but they do include the pending transaction amounts in the account's online balance amount. Even though they are pending from the bank's perspective and not downloading, I usually have already these transactions entered into my Q register, either added manually or as scheduled transactions. In either case, I would happily manually set the Cleared Status to Pending. And then when they eventually downloaded from the bank, Q can override the transaction's Cleared Status to Cleared or Reconciled as appropriate.

My bank is one of the latter institutions, which is why my account only reconciles when it has no pending transactions. I've asked the bank to change (or correct, in my opinion) their download, but I doubt that that will happen. Below is my prior discussion about this topic but I don't think it's worth reading; I only include it for reference.

https://community.quicken.com/discussion/7968286/automatically-reconcile-my-cleared-downloaded-transactions-q-mac

Chris_QPW

For Quicken Mac it is a problem with the financial institution if you are getting pending transactions in the register or in the online balance. If they aren't doing it right, then it highly unlikely that Quicken can fix it. The data needs to be consistent.

With that being said I will say that Quicken Windows has a feature to show pending transactions, but I doubt that if Quicken Mac implemented it that it would work right for the situations you describe because it still relies on consistent data, and maybe even more than when the pending transaction feature is turned off.

The way it works in Quicken Windows is that pending transactions are treated like future scheduled transactions (reminders), as in they appear in the register, but they aren't official entered into the register. And if the pending transaction doesn't go through, they will be removed automatically. They will also be removed when the transaction posts. The user can enter the pending transaction into the register, where it will become just a regular transaction as if the user had manually entered it.

Just like the reminders, Quicken Windows doesn't use the Cleared Status column for this, it has a separate column for this status.

And the online balance never includes the pending transactions. For the financial institutions that are including pending transactions in the online balance, this isn't a fix for that.