Have Reconciliation Behave the same across all accounts and account types

David37211
David37211 Member ✭✭
When I select Reconcile on a Bank account (Checking or Savings), Reconcile Account provides a list of transactions to select and then when I click on Done, these transactions are marked as Reconciled.

When I select Reconcile on a Cash Account (Cash), Reconcile Account only provides an update Balance but it at least marks all transactions to Reconciled.

When I select a Property or a Liability account, Reconcile Account provides a similar dialogue box to the Cash account for me to enter an updated balance. This then updates the account balance by creating a reconciled transaction that makes the balance what I entered into the dialogue box. However, no other open transaction is marked as reconciled.

Since the Year End Copy function will remove only transactions that are marked as Reconciled, the process of manually marking each transaction as Reconciled within these accounts can become quite tedious. Can Quicken be updated to have these accounts behave the same when selecting to Reconcile them?

There was a time in older versions of Quicken that all accounts (Cash, Checking, Savings, Asset, etc.) behaved the exact same - enter an ending balance and then quickly mark the transactions you wish to be reconciled. For me, this would be the ideal - to go back to that modality. The way Cash accounts are currently behaving would be a good 2nd choice for all accounts other than Bank and Investing accounts.
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Comments

  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    Fully agree.  Been on this band wagon for some time.  Not only should reconcile behave the same across account types but registers should largely have the same fields and the same options.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    For a CASH type account, there's nothing to reconcile TO.  All that you could possibly do with a CASH account is to update the balance. 
    There's no external source of transactions that you can compare to your cash account to, in order to "reconcile" it.
    This idea simply doesn't make sense.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • DonPugh
    DonPugh Member
    It appears that only account types = Checking and Credit have the standard reconciliation function. It appears account types = Asset and Liability and Cash do not have the ability to reconcile.
    This is a product DEFECT. I have messed with this issue, and the only workaround seems to be setting and asset account up as a checking type.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    NotACPA said:
    For a CASH type account, there's nothing to reconcile TO.  All that you could possibly do with a CASH account is to update the balance. 
    There's no external source of transactions that you can compare to your cash account to, in order to "reconcile" it.
    This idea simply doesn't make sense.
    The same is true of many assets... there is nothing to reconcile with. Reconciliation requires that there be another source, document, record, etc. to compare to. Many assets simply do not have that.

    That said, maybe introducing an option to turn on the reconciliation feature on select asset accounts would be an alternative, for those asset accounts that might have another source.
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  • David37211
    David37211 Member ✭✭
    I agree with you on the comment that a typical "Cash" account, there is typically nothing to reconcile to.
    My desire is that for Credit Card accounts and Checking Accounts, all is good. You can select the transactions to mark as reconciled. For other accounts, some, the "Reconcile" action is just an "Update Balance" action with differing behaviors. Some accounts, all unreconciled transactions are marked as reconciled while other accounts only the correcting transaction is marked as reconciled. My desire for this is that when I do a Year End Copy action, only reconciled transactions are removed in the new copy of the file; therefore, unless I manually mark all of the transactions as reconciled manually, they will not be removed during the Year-End Copy process.
    I have been a Quicken user for many many years. When I created most of the accounts that I am wanting to behave this way, all accounts behaved the same way when executing the Reconcile action. This "new" behavior has been in place for a few years now and I would like there to be only 2 ways of behavior. Either the full Reconcile activity OR an Update Balance activity but both will mark either the selected transactions (Reconcile) or all transactions (Update Balance) as reconciled.
  • nniesen
    nniesen Member ✭✭
    > @NotACPA said:
    > For a CASH type account, there's nothing to reconcile TO.  All that you could possibly do with a CASH account is to update the balance. 
    > There's no external source of transactions that you can compare to your cash account to, in order to "reconcile" it.This idea simply doesn't make sense.

    There's no good reason to make it different. As OP said, it's a pain to individually mark all transactions as reconciled. Why not just show all of them in the standard reconcile window. Users can select "Mark All" and if the balance doesn't match, they can choose to add the adjustment.