Question re: reconciling a credit card account from a paper statement

I don't see any place to input the previous balance in the reconcile window in the Quicken register. How do we account for that amount? I am thinking as I write this that it is probably a stupid question but frustration made me ask anyway lol.
Thanks in advance for the help.
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Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @Annette_Ross

    There are no "stupid questions" here.  And yours isn't even close to that anyway.

    The application effectively "knows" whether this is the first reconciliation, or whether the account has been reconciled before, and therefore doesn't need you to tell it the "previous balance in the reconcile window". 

    So relax and happy reconciling!

    Frankx 

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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I think it might be worth mentioning how Quicken comes up with the previous balance. It does it by adding up all the reconciled transactions amounts.  That amount and the total of all the cleared transactions up to the "statement ending date" is what is shown as the "Cleared Balance" in the reconcile window.
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  • Thanks so much for taking the time to reply. I appreciate the help. The account is kind of new. The first few statements were fine. This time I was off. When I factored in the previous balance (that I hadn't had to do before) it balanced. After reading the replies I'm now thinking I must have done or not done something on the previous statement. I'll go back tomorrow and check it out and let you know. Thanks again to all. :)
  • I checked the previous statement and that's where the error was. Thanks for being patient and kind :)
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    It is always enjoyable to help people that are nice.
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