Doing a credit card reconciliation

Lizzzy

Today I went to reconcile my credit cards, and everything has changed. Now instead of just typing in just 2 pieces of info - the date closed and just the balance, I now have to type in everything. The date closed, the closing amount, the amount charged, the amount paid on the card. It was just so easy before this came along. And then to add insult to injury, it is out of order per a statement vs how Quicken is showing it. They (Quicken) show it is the charges first, then payments second, then ending balance, then the new statement ending date. The way the credit cards show it is payments first and then purchases, then the new balance. The payments should be first, then purchases.

Quicken Laura

Hi @Lizzzy,

I understand why this change may feel confusing. The labels and layout may differ depending on the account type and whether the account is connected, but the requested information remains the same basic statement information you have always used for reconciliation.

For a connected credit card account, Quicken is asking for:

• Ending Statement Date — the date your credit card statement closes
• Charges/Cash Advances — purchases and other charges on the card
• Payments/Credits — payments made to the card, along with any credits or refunds
• Ending Balance — the statement's closing balance

For a non-connected credit card account, the wording is slightly different:

• Charges/Cash = purchases or charges
• Payments/Credits = payments, refunds, or credits
• Ending Balance = statement balance
• New Statement Ending = the next statement closing date

For checking and savings accounts, the reconciliation fields are different because those accounts reconcile against a bank statement rather than a credit card statement:

• Ending Statement Date = statement closing date
• Prior Balance = previous statement/reconciliation balance
• Ending Balance = ending balance on the statement

The order of the fields may not match the order shown on your card issuer’s statement, but the amounts themselves represent the same information. Once you match Quicken’s labels to your statement terms, the reconciliation process should work the same way.

For additional guidance, you can also refer to this support article: https://www.quicken.com/support/reconciling-account-quicken-windows/?srsltid=AfmBOorY6x5ULxsKGU6ob8ab25NLvC8-Z60YW-fj65YPxcgmKufiRXB1

I hope this helps clarify the differences. Please let me know if you have any additional questions.