Add Account Opening Balance not correct - Broken?

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alan2857
alan2857 Member ✭✭✭
edited January 2021 in Download, Add/Update Accounts (Windows)
Recently I created a new test file (with sync turned off) to investigate some issues I had been having with Capital One transaction download. I added my Capital One accounts successfully but the register ending balance was off. Quicken appears to be setting the opening balance during add account incorrectly. I believe this occurs when the account history that downloaded is only a partial history of the account, not clear where it is getting the opening balance number from but its incorrect.

Also tried setting up Express Web Connect to a Marcus by Goleman Sachs account I have in my main Quicken file. In this case it went back and overwrote the opening balance with the ending balance.

Anyone had any similar experiences?

Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    alan2857 said:
    Quicken appears to be setting the opening balance during add account incorrectly. I believe this occurs when the account history that downloaded is only a partial history of the account, not clear where it is getting the opening balance number from but its incorrect.

    Yes Quicken sets the opening balance when creating adding a new account/online connection.

    From what I can see it is a "back calculation" from the online balance.
    As in they set the opening balance to an amount that will make the ending register balance match the online balance given all the transactions downloaded.

    Of course this all depends on getting the correct online balance, which doesn't always happen.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    P.S. You can just change the opening balance transaction to what it should be.
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  • alan2857
    alan2857 Member ✭✭✭
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    Thanks for the quick response, I can see what you mean; perhaps they should prompt the user for an opening balance for the start date. Probably hadn't noticed this in the past I I generally add the account as soon as its opened.
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