When I tried to reconcile credit card it showed a 'cleared balance' before I did anything. Is there

lwashjrlwashjr Member
edited October 2018 in
I recently upgraded from Quicken 2010 to Q2013 on a Windows 7 machine.

Today I tried to reconcile an existing credit card account for the first time. I opened the reconcile window, entered the correct values and clicked to the page where you clear the entries.

When I got to that page, it had a 'cleared value' before I cleared anything. See attached screen shot to understand what I am saying.

Every time I cleared an entry it changed that 'starting value'. In my 20 plus years of experience with Quicken, the starting 'cleared value' has always been zero (as it should be)

The on-line chat suggested I enter the 'register ending value as the 'statement ending' value. That is good only if there have been no transactions since the statement close date.

By the way, this did not happen when I reconciled a bank account and an investment account, only the credit card account.

What do you suggest?
image

Comments

  • Howard RoarkHoward Roark Member ✭✭✭✭
    edited August 2016
    The display is normal.

    The "Cleared Balance" does not refer to transactions with a Cleared Status of "c"; it refers to all transactions in the account with a cleared status of "R" ... and that will be every transaction that had a Cleared Status of "R" before you began the reconcile, plus every transaction that had a cleared status of "c" before you began the reconcile and which qualified for (appears in) the reconcile.

    If no transactions had a cleared status of "c" before the reconcile began; the Cleared Balance would be the net amount of all reconciled transactions in the register.

    Every transaction that gets a check mark added or removed during the reconcile (including those Quicken "marks" by default at the start of the reconcile) will change the Cleared Balance by the amount of the transaction *.

    Since none of the transactions in your attached reconcile dialog are "marked", that means you should have $6527.29 in reconciled transactions (transactions with a Cleared Status of "R") in that account.

    [ * Unfortunately, a bug in Quicken will also change the Cleared Status to a space whenever you unmark a transaction in the reconcile dialog.]
  • lwashjrlwashjr Member
    edited July 2016
    That can not be correct.  I have probably $200,000 in 'R' reconciled transactions in that account.  And, if I click a payment transaction in the reconcile window, the 'cleared' value gets bigger.  So the cleared value keeps getting bigger.  this means the statement value never equals the cleared value.
  • splashersplasher SuperUser ✭✭✭✭✭
    edited October 2018
    But they are credits and debits, so the sum total is not 200K.
    -splasher  using Q since 1996 -  QW2016, 2017 & Subscription  -  Win7/Win10
    -Questions? Check out the  Quicken Windows FAQ list

  • lwashjrlwashjr Member
    edited July 2016
    NoWayJose said "cleared status refers to every transaction that had an "R" before you began to reconcile
    .  That would mean all of my 10 plus year history with this credit card would show as 'cleared'
  • Quicken TamaraQuicken Tamara Member, Employee ✭✭✭✭
    edited October 2018
    That is correct. If you have 10+ years of transactions marked with an R in the account register for your credit card, then the total of those R transactions is the Opening Balance of the Reconcile screen.
  • lwashjrlwashjr Member
    edited July 2016
    But it isn't.  That total is well over $200,000 and the cleared balance shows only +/- $7000.

    If this is the opening balance, how can I change that.

    I'm a 20+ year quicken user, never seen this before
  • Howard RoarkHoward Roark Member ✭✭✭✭
    edited August 2016
    It's still a reconcile issue. Maybe not the issue you expected to address during a reconcile, but something that calls for the same approach. There is no magic bullet.

    If the net amount of reconciled transactions in your register is wrong, then you need to find out why and fix it ... just as you would do if your reconcile ending balance was wrong because the net amount of your current reconcile period transactions was wrong. You look for transactions that are missing, extra, or have an incorrect amount ... and correct them as necessary.

    [Sometimes there is a near-magic bullet: the account opening balance transaction is the culprit. You correct that transaction just like you'd correct any other transaction]
  • edited July 2016
    I just upgraded to Q2013 and ran into this exact problem.  It is very frustrating the way that the credit card reconciliation has changed - I spent a long time playing with the numbers to figure out what Quicken meant by certain fields and what it was thinking.
    My problem disappeared, however, when I zeroed-out the opening balance for the account - I guess I've been doing a better job at reconciliation than I first thought.
    That said: I still don't like the way Quicken changed the credit card reconciliation.  I think the scope should have remained individual statement rather than the entire account history -- bad choice, Intuit!!!
  • QPWQPW Member ✭✭✭✭
    edited October 2018
    Quicken's reconcile has always been the whole account history.  They did not change this.
    There have been some reports (largely unconfirmed) of downloaded transactions for the future that are included in Quicken 2013's reconcile, but that is quite different then what happens with the past.

    It makes completely no sense to talk about "the current statement" for a reconcile.
    I can write a check and person I sent it to might not cash it for 2 years.  In all that time the bank will know nothing about it, but in fact it is still valid and part of my Quicken data and Quicken needs to account for it to be correct.

    All reconciling is based on the past numbers, it can't be any different.

    In your case you say that you zeroed out the opening balance and that the problem went away.
    That in fact suggests that in fact you have not been reconciling correctly for all this time, because you started with the wrong amount in the first place (unless the opening balance got changed by some other thing in between, and that "thing" whether Quicken or human would be at fault).

    If I have an opening balance $1334.53 on January 1, 2012.  Then I better in fact have $1334.53, if I don't then the only way proper way to fix it is to change it to what I really had.  The other way to "fix" it is to put in a balance adjustment, but what that does is correct the balance from that point on, it doesn't fix the fact that the past history is in fact wrong.
  • edited July 2016
    I disagree, QNPW - it makes fine sense to reconcile a CREDIT CARD statement (which is what we're talking about) with respect to a single statement, since that statement is entirely self contained: beginning balance, purchases and charges, credits, and ending balance should come out to zero. (balance forward might come into play here - but I always pay off my cards so I'm not sure.)  
    If Quicken has always done this, how come I've never run into this issue before in all my years of using Quicken?
  • mshigginsmshiggins SuperUser ✭✭✭✭✭
    edited March 2017
    Whether it makes sense or not, that is how the Quicken reconcile has always worked.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • QPWQPW Member ✭✭✭✭
    edited October 2018
    "Whether it makes sense or not,"

    The exact phrase I would use is"Whether it makes sense or not, to you", because in fact from a mathematical view it is the only way it works.  You can not add up numbers out of context and get anything meaningful.

    WCB  your credit card statement is self contained, but the reconcile isn't.  The statement from your financial institution is about everything the financial institution knows about.  Your reconcile is about everything Quicken knows about in comparison to what everything your financial institution knows about.  And you have things happen in your account that are never considered possible on a financial institution's statement.  You/Quicken change the opening balance of the account for instance (say either by human error or a conversion problem).  You can delete transactions, you can change them, ...

    There is only one situation where I have seen where Quicken doesn't take the whole past history into account (and it is not the reported case here), and that is in a pure manual account.
    In a pure manual account (no downloading) the user can enter the starting balance for the reconcile, and Quicken will believe it.  And frankly get themselves into trouble because in fact if they enter the wrong starting balance they will mess themselves up going forward.

    WCB I have no idea how you reconciled before, you might even have been doing it right, and like I said if the problem was only in the opening balance, it might have been caused by say a conversion problem.  Then again you might not have been doing it right, I don't know, I can't see what you did.

    What people seem to call "reconciling" on here is far from it.
    They think that "reconciling" is looking at some green check marks and saying OK is reconciling.
    And some even think that if it asks to do a balance adjustment that they have reconciled by select it is OK to do that.

    Reconciling is the process to make sure your Quicken account register compares to the one of the financial institution, taking into account any transaction that the financial institution doesn't know about.

    We hear "I can't reconcile, what is the problem?" all the time here.  Which in fact is a meaningless statement.
    Since a real reconcile would either terminate with, balanced, or "I'm have a missing/changed/added ... transaction(s) what caused it?".  As in you would know exactly what is wrong, but maybe not the cause.  With this  then you can start to talk about if the problem was created by say wrong procedures in handling downloads, Quicken's "math", human error, you name it.

    The point is that Quicken has always taken the full account register into account, because it is the right thing, the only proper thing to do.  To tell someone that you have reconciled because a stretch transactions match their statement, is just plain wrong.
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