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What should the account type be for a PayPal Debit card account

tewitt

I opened a PayPal Debit Card account with account type = checking. The account was opened with a negative balance of -320.41. My problem now is that each time I open a reconcile window, the opening balance indicated in the reconcile window is -1679.59. That number is 2000-320.41. Where did the $2000 originate? The ledger opening balance shows -320.41.

Any help you can give me is certainly appreciated. My subscription is currently active, so I don't know why the screenshot shows the incorrect expiration status

[Edited - Removed Sensitive Information]

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Quicken Carlos

Hi @tewitt,

Thank you for bringing this to our attention.

If you haven't already, I suggest refreshing your sign-in session by going to Help > Refresh Sign in and completing the sign-in process. This may help refresh your subscription status in Quicken.

Regarding the $2,000 discrepancy and the opening balance still showing -$320.41, I have a few questions that may help us narrow down the cause:

Is there a transaction for $2,000 in the account, or any transaction that may have been incorrectly marked as reconciled?
Have any changes been made to the account after it was reconciled? For example, was an older reconciled transaction edited, deleted, or changed?

If the account was previously reconciled, changes to older reconciled transactions can cause a discrepancy in the account balance. I also recommend reviewing our support article on Quicken for Windows: Reconcile Troubleshooting for additional guidance.

Please let us know what you find. Your answers will help us determine the next steps.

I look forward to your reply!

tewitt

Thank you, Carlos. The refresh updated my Quicken subscription date.

Regarding the $2,000 discrepancy and the opening balance still showing -$320.41, I have a few questions that may help us narrow down the cause:

Is there a transaction for $2,000 in the account, or any transaction that may have been incorrectly marked as reconciled?
- Nothing I can find in the register. I exported the account to an Excel spreadsheet; the resulting xls file indicated a $0 balance.
Have any changes been made to the account after it was reconciled? For example, was an older reconciled transaction edited, deleted, or changed?
- I have deleted several older Opening balances, reconciled transactions, and unreconciled transactions in an attempt to balance this account. I misunderstood how the PayPal debit card worked. The PayPal account side uses the account as a balance transfer account. After considerable confusion about the monthly statements, Gemini reported the debit card statement was at the at the very end of the monthly balance transfer statement. The balance transfer account is an all inclusive compilation of all the transactions from multiple payment sources that were processed through the account. Trying to make sense of the statements appeared to be a daunting labor intensive task. Thank goodness, I was able to set up Express Web to get downloads online. The downloaded transactions appear to match the debit card statements. Now, if I can solve where the $2000 balance is coming from, I can balance and reconcile the account.
Does the account type "checking" appear to be the correct account type for the debit card?

Thanks for your assistance!

Terry

[Edited - Readability]

tewitt

I want to add that I deleted all of the transactions and previous opening balances to bring the account to opening date of the debit card.

Quicken Carlos

Hi @tewitt,

Thanks for following up and providing more details about the changes you made to the account.

Since you deleted the previous opening balances and other transactions, I suggest reviewing the account register against your PayPal Debit Card statements to identify when the $2,000 discrepancy first appeared. You can also review the opening balance and any remaining transactions to see whether an adjustment is needed.

I suggest reviewing our support article to help you identify and resolve the discrepancy:

https://www.quicken.com/support/quicken-for-windows-reconcile-troubleshooting/?srsltid=AYCX9vLbKwIY7DYE9TQCcKqqD0IlidNA1Ri28T52JpsrLH856dKSiLMk

If you cannot identify the source of the difference, you may need to make a balance adjustment to reconcile the account. However, I recommend trying to identify the cause of the discrepancy first.

I hope this helps!