Balance Discrepancies - QWin [Edited]

Fran101

I use the savings goals to put money aside for my bills. In some of my accounts, the totals are all in the red in the tens of thousands of dollars. I continue to put money aside.

So over the years, accounts have been switched, added on, etc. The question, I guess, is how do I bring my savings goals up to date???? They go back quite a few years. It's the only aspect that I can't seem to figure out.

I think savings goals are a good idea for putting money aside. Can someone help me with this so maybe I can get rid of all the negative totals showing in my regular accounts?

Creating a whole new Quicken file from scratch would be a nightmare. There must be a way to rectify.

bmciance

When you spend the money you saved up you have to transfer it back to your accounts since that is where you actually spent it from. Not doing that would result in your negative balances.

All the savings goal does is remove the money temporarily from your spending accounts so that you dont spend it on something else. Once you actually spend it on that item you need to move the money back from the savings goal to "close it out".

UKR

For more information, please read About savings goals (quicken.com) and look for more details here:

• Use the Saving Goals window to check your progress towards a goal, change a goal, and contribute to or withdraw from a goal.

NotACPA

@Fran101 What file size do you consider to be too big? Based upon what criteria?

If you click HELP, and hold down the CTRL key while you click "About Quicken", it will tell you the QDF file size as Quicken knows it.

BTW, file size has very little to do with Q's performance, if that's why you're creating new files.

Quicken Laura

Hi @Fran101,

Thank you for reaching out. In addition to the other helpful responses shared, it’s possible that the file cleaning process created some balance discrepancies.

If your goal is simply to adjust the balances so they reflect the correct amounts as of today, you can do so by editing the Opening Balance transaction. This can be done directly in the register for checking, savings, credit card, and other non-investment accounts.

Please follow these steps:

1. In the Account Bar, select the account you want to update.
2. Sort the register by Date to find the earliest transaction.
3. Locate the transaction labeled Opening Balance or the first entry with an initial amount.
4. Edit the Deposit or Payment field.
5. Press Enter or select Save.

Tip: If the opening balance is missing, you can manually insert a new transaction dated before the first downloaded or entered transaction.

I hope this helps!

bmciance

When you spend the money you saved up you have to transfer it back to your accounts since that is where you actually spent it from. Not doing that would result in your negative balances.

All the savings goal does is remove the money temporarily from your spending accounts so that you dont spend it on something else. Once you actually spend it on that item you need to move the money back from the savings goal to "close it out".

UKR

For more information, please read About savings goals (quicken.com) and look for more details here:

• Use the Saving Goals window to check your progress towards a goal, change a goal, and contribute to or withdraw from a goal.

Fran101

Thank you for your answers. That is exactly how I understand the savings goals to work. I think that when my quicken file gets too big, and I create a new file, that process cleans out the old dead stuff to create the new file. I think that's what's causing red totals running in my spending accounts. I'm very picky, and I always make sure to use the savings goal money whenever I am spending. The red totals in my spending accounts go way back to 2014-2016 showing money transferred to the savings goals. This is where my confusion lies. I don't know if I can delete those very old transfers to the savings goal . I think that will throw everything off. Your thoughts???

NotACPA

@Fran101 What file size do you consider to be too big? Based upon what criteria?

If you click HELP, and hold down the CTRL key while you click "About Quicken", it will tell you the QDF file size as Quicken knows it.

BTW, file size has very little to do with Q's performance, if that's why you're creating new files.

Fran101

I only make a new file when the dates are over a long period of time and the screens get very sluggish.

I just don't know what to do with the negative figures in my accounts that go back several years.

Quicken Laura

Hi @Fran101,

Thank you for reaching out. In addition to the other helpful responses shared, it’s possible that the file cleaning process created some balance discrepancies.

If your goal is simply to adjust the balances so they reflect the correct amounts as of today, you can do so by editing the Opening Balance transaction. This can be done directly in the register for checking, savings, credit card, and other non-investment accounts.

Please follow these steps:

1. In the Account Bar, select the account you want to update.
2. Sort the register by Date to find the earliest transaction.
3. Locate the transaction labeled Opening Balance or the first entry with an initial amount.
4. Edit the Deposit or Payment field.
5. Press Enter or select Save.

Tip: If the opening balance is missing, you can manually insert a new transaction dated before the first downloaded or entered transaction.

I hope this helps!