Why doesn't quicken record online balance periodically?

To reconcile, I have to manually enter the balance on the bank side on the memo part of a transaction and compare it with my balance. It would be so much easier if Quicken does the recording for me every so often. Maybe Quicken should have a column called "online balance" for the last transaction of the downloaded transaction. Or, it would only do so if the previous recorded balance more than a certain period away, say, a month.
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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Quicken downloads the Online balance every time you download transactions. This balance is shown along with the current and ending balances at the bottom of the account's register, just below the last transaction.

    Also, you might want to consider using the Auto reconcile option. This will automatically reconcile your account to the online balance at the end of each download session. To enable this, check the "Auto reconcile downloaded transactions" box at the bottom of the account's Reconcile screen.

    QWin Premier subscription
  • Thanks. I've known quicken shows online balance every time there is an update. Is this balance stored in a hidden place so that it can do an auto-reconciliation ?

    Thanks to your tip. I did an auto reconciliation and a bit confused. While it would clear most of my transactions, including transfers to other financial institution, it leaves every single transfer to a particular credit card account as "uncleared". How can this be? How do I know there are transaction missing with this method?
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    It is easy to find uncleared transactions - those that are entered in Quicken's register but have not had a matching transaction downloaded. In the search filters at the top of the register, click on the All transactions box and select Uncleared. Be sure to click on the Reset button when you are done.
    QWin Premier subscription
  • Thanks... now I know "cleared" means the transaction matches with the downloaded ones.

    So this means Quicken has a bug. The "uncleared' transactions I mentioned earlier are in the statements. In fact, almost all my transactions are downloaded from institutions, as I rarely hand-entered any transactions. The exceptions are the transfers, which are entered automatically by Quicken software when it encounters transfer at the other side of transfers. I expect Quicken is able to identify those transfers by the amount. But it doesn't.

    Back to my original proposal, I still think having periodically recorded "online transaction" in the register have a lot of value. When the ending balance and online balance don't match, people can start trouble-shooting, like finding the missing transactions. The "auto reconcile" does not show where the missing transactions are.

    This should be fairly simple for quicken to implement, but it helps the customers a lot.