Major Errors in Account Balances
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LarCrow@
Member ✭✭
I upgraded to Quicken Deluxe 2018 from Q2016 a couple of months ago and
have kept it up to date with the latest updates. As I do frequently throughout the month I reconcile
my accounts to insure all transactions match what my online BofA account
indicate and particularly the balance in each account. This month I see a major discrepancy in the
balance of my primary Q checking account relative to what the bank shows. All of the transactions match exactly but
the balance shown is wrong. In
reviewing the last 6 months I see that the balance is off by the same amount even
though it was correct in previous months at the time I went thru the reconcile process. I
then went back to my earliest available online BofA data (12/7/2016 ) and the
same major error is now showing up in the balance column of my Q data.
have kept it up to date with the latest updates. As I do frequently throughout the month I reconcile
my accounts to insure all transactions match what my online BofA account
indicate and particularly the balance in each account. This month I see a major discrepancy in the
balance of my primary Q checking account relative to what the bank shows. All of the transactions match exactly but
the balance shown is wrong. In
reviewing the last 6 months I see that the balance is off by the same amount even
though it was correct in previous months at the time I went thru the reconcile process. I
then went back to my earliest available online BofA data (12/7/2016 ) and the
same major error is now showing up in the balance column of my Q data.
I cannot say this is definitely a Q2018 problem but it is by far the largest balance
correction I have ever had to make and the only one that affected previously
Reconciled periods. Since 2009 I have
had to adjust the balance 8 other times for amounts typically less than $50
that I finally gave up chasing and where the running balances were correct as
of the last Reconcile action.
What could be causing this to happen?
0
Comments
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I'm not on Quicken 2018 but have had the same problem in previous releases. I carefully balance the accounts every statement period and suddenly an account is out of balance and the problem goes back more than a year. I've tried searching the account's history for a transaction with the out of balance amount but that has never worked. Like you, I end up adding an adjustment transaction back a couple years and simply going on from there. I guess that I would expect any transaction(s) added to the account to not the the "R" for reconciled, making them easy to find in the history but that has never worked either.0
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I had the same issue a few months ago, and it went back a couple of years. I didn't feel like going through each and every statement so I took the adjustment suggestion and balanced out. It's been OK ever since [knock on wood].0
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Thanks, it's reassuring to know others have also faced the same problem but annoying that it hasn't been fixed. I suspect that several of my previous errors might have been the same problem but only now when the error was so large and out of character did it rise to a level that i realized it wasn't my error but somewhere in the Quicken software.0
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I found this aggravating as well. After I download the transactions I reconcile using the account balance and not the online balance. Quicken know longer knows the difference between the two. ‘pending’ transaction should be ignored when reconciling. When I use the balance before pending transitions all is fine. Quicken continues to falter in so many ways.0
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If you reconcile regularly and have access to sufficient datafile backups, you should be able to determine what changed in the register by comparing the running balance in the register with the running balance in the register of a datafile backup saved when you last successfully reconciled the account and correct the issue appropriately. I suggest printing the registers to text files to enable easier comparison.0
This discussion has been closed.