Check that hadn't posted is marked "c" then "R" ?!
I've got a check I wrote for $52 in Sept. Both Quicken and the bank statement for Nov. 13 - Dec. 12 show it posting on Nov. 17. The problem is that Quicken shows it as "R" even tho it had not posted when I reconciled the previous statement.
My first guess was that I accidentally reconciled the wrong $52 transaction. But there is no $52 transaction on this paper statement or the 3 previous, and Quicken can't find any other transaction for $52 in this account in all its history (including in splits).
In a Sept. 13 Quicken backup, the transaction is marked "c" but the posting date is blank. How do I interpret this? I thought "c" meant it downloaded. My Oct. 3 Quicken backup shows it as reconciled.
So now, trying to reconcile the current statement, I'm $52 off. I'll enter a fudge transaction in order to reconcile and get on with my life. But this is mystifying me.
I'm used to changing the date of a transaction by one day to account for statement cut-off dates, but this Nov. 17 is four days after the statement beginning date and long before the statement ending date.
Can anyone suggest what happened here? Any advice on what else I can/should do?
Many thanks,
Jeanne
Quicken Classic Deluxe, R53.32 (Windows 11 Pro)
Answers
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If the check still has not cleared the bank, edit the transaction and mark it as "uncleared".
Leaving it unchecked during Reconcile should now give you a "clean Reconcile" with 0.00 difference.Why the check was marked "c" and "R" I can't say. I can only assume that it was accidentally included in a Reconcile by clicking "Mark all".
If you created the check's register transaction by using a Memorized Payee List entry, please do review this MPL entry. Edit it and make sure that the checkbox "Mark as cleared" is not set. This will cause the register transaction, when saved, to be marked "c".
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Here is my guess at what happened, and why you are off by the same amount $52.
Mine plays out like @UKR's but there is a bit more to it.
If one selected "Mark all" or somehow get the check cleared and then went to reconcile I would think the next thing Quicken would do once you tried to complete the reconcile with it not balanced to zero is to ask if you want to put in an adjustment. This is of course, actually admitting that you didn't reconcile, but I have seen tons of people say things like "each month have to put in a balance adjustment", so clearly people are doing balance adjustments instead of actually finding the problem.
This means that one more step should be done besides what @UKR suggested and that is look for a balance adjustment around the time of the close of the statement were that check is. If my guess is correct, they you should be able to remove that balance adjustment and then todays reconcile will be correct.
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I've tried to post a response twice and it fails. Is there a max. length? Apparently so. I'll try breaking up my essay.
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UKR & Chris_QPW:
I have to begin by confessing that I first got Quicken more than a couple of decades ago and avoided updating but a couple of times. This becomes a bit of a game. (How far can I skate on this thin ice?) But with Quicken and other programs, I've out-smarted myself and it's become a huge liability. So I appreciate any patience with my ignorance; I am repentant and trying to catch up.
And you've already taught me a couplafew things, for which I am grateful.
(continued)
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CHANGING THE STATUS or DOING A BALANCE ADJUSTMENT:
As mentioned, the check posted 11/17 in Quicken and appears on the current paper statement. If I change the "R" to blank, that just results in a $104 discrepancy. Clicking to clear the original transaction leaves me with the same $52 discrepancy. And I'm no closer to understanding why I was able to reconcile to previous statements.
Yesterday, I entered a "fudge" or "placeholder" transaction, which sounds like it does the same as a balance adjustment. How/where does one do a balance adjustment? I've never clicked "DONE" with a discrepancy evident. I just go enter a fudge transaction or simply cancel until I can figure it all out. Is that why I've never seen an offer to do balance adjustment?
And does the adjustment appear in the register as a transaction so that it is functionally the same as entering my fudge transaction manually? Any particular advantage to doing a balance adjustment?
(continued)
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MARK MEMORIZED PAYEE AS CLEARED:
In the Edit Memorized Payee dialog, "mark as cleared" means mark it as cleared when I manually ENTER the transaction? Otherwise, it is only marked as cleared if it is downloaded and matched?
This WAS a memorized payee but it was not the usual amount & splits. And I've still got the fact that there is no other $52 transaction OR SPLIT with $52 that COULD HAVE RESULTED in the "R" in that column.
Still, clearing that checkbox definitely sounds like a good idea. I wish there was a way to change them all easily, but I'll work on it.
(continued)
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LAST DITCH EFFORT:
I just went over to citibank.com and searched for ANY $52 transaction of any kind over the past six months. There is only this check dated 9/6 and posting 11/17.
So
it looks like I have $52 less in this account than I thought tho I may never know why. Reconciliation (manual or Quicken) should tell me but I'm stumped. It's possible some other discrepancy will emerge in the future and I'll be slapping palm-to-forehead.But for now, happy holidays to all, and many thanks again,
Jeanne0 -
I would suggest checking the opening balance on the account. Quicken can sometimes change it without our knowledge.
Quicken Subscription HBRP - Windows 100 -
I'm going to go through a "What it might have been" with screenshots so you can see if I can make what I was saying clearer.
But before I do, let me state something about having a memorized payee where it is marked cleared. You are correct that it really only applies to manually entered transactions, but unless that transaction is never going to be downloaded, it should never be marked cleared.
Uncleared: You have entered a transaction that has yet to clear the bank. Cleared: It has cleared the bank. Reconcile: you have reconciled that transaction and ensured it matches the financial institution. When you download a transaction Quicken automatically marks that transaction as cleared, because it impossible for it not to have cleared the bank since you are downloading transactions from that bank. If on the other hand you manually enter a transaction and mark it cleared, you have defeated the whole propose of that status, to know which transactions have cleared the bank and which have not. Given that eventually you will download all the transaction then the cleared status will be set for that manually entered transaction when the downloaded transaction is matched to it. The big danger of marking it cleared before it actually is, is something just like in your case, you will think it cleared the bank, when in fact it hasn't yet.
Check written and manually entered into Quicken and imagine I'm reconciling 6/30/2023 to a statement and the check hasn't been cashed yet. With the check uncleared and the financial institution reporting a balance of $5000.
So, this would reconcile, nothing it the register would change because the only transaction shown (the check) isn't marked cleared and even though it is shown here it isn't part of the reconcile.
But let's say the check gets marked cleared by mistake:
So, this fails to reconcile (-100 instead of zero). But what would happen if I select Done?
This dialog would come up:
And if I select Adjust?
This is what I was suggesting might have happened.
The effect of the above would be to sort of cancel out the check ever being written (same thing would happen if you were to void out a check and it was eventually cashed). So, when the check actually gets cashed all of a sudden you have "missing transaction" for that same amount.
If this was the case, then finding the Balance adjustment and removing it would make things balance again.
But as I look at all your details again, the more I think this isn't the case. You said there isn't another $52 transaction, which is exactly what the balance adjustment would be (with the opposite sign though).
So, @Greg_the_Geek's suggestion seems more likely, but the fact that the check transaction is now marked reconciled when in the backup it isn't suggests that even more is going on, but I can't really see what it might be.
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»I'm going to go through a "What it might have been" with screenshots so you can see if I can make what I was saying clearer.«
You have certainly gone above and beyond, and I thank you. The absence of an answer is not the absence of information—not by a long-shot. You and others have expanded my knowledge and left me feeling that there is not some blindingly obvious, elementary, dumb-simple explanation.
I won't soon forget this little $52 fudge transaction and if I am ever able to update this discussion I most certainly will.
Again, thanks,
Jeanne
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I think I deleted my first response, so hoping this is not a dupe: I went back to August to check on the opening balance and the problem doesn't seem to be there. However, this possibility has definitely been restored to my troubleshooting list. Again, thanks for reminding me of this possibility.
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MARK MEMORIZED PAYEE AS CLEARED:
In the Edit Memorized Payee dialog, "mark as cleared" means mark it as cleared when I manually ENTER the transaction? Otherwise, it is only marked as cleared if it is downloaded and matched?
This WAS a memorized payee but it was not the usual amount & splits. And I've still got the fact that there is no other $52 transaction OR SPLIT with $52 that COULD HAVE RESULTED in the "R" in that column.
Still, clearing that checkbox definitely sounds like a good idea. I wish there was a way to change them all easily, but I'll work on it.
LAST DITCH EFFORT:
I just went over to citibank.com and searched for ANY $52 transaction of any kind over the past six months. There is only this check dated 9/6 and posting 11/17.
So
it looks like I have $52 less in this account than I thought tho I may never know why. Reconciliation (manual or Quicken) should tell me but I'm stumped. It's possible some other discrepancy will emerge in the future and I'll be slapping palm-to-forehead.But for now, happy holidays to all, and many thanks again,
Jeanne0 -
UKR & Chris_QPW:
I have to begin by confessing that I first got Quicken more than a couple of decades ago and avoided updating but a couple of times. This becomes a bit of a game. (How far can I skate on this thin ice?) But with Quicken and other programs, I've out-smarted myself and it's become a huge liability. So I appreciate any patience with my ignorance; I am repentant and trying to catch up.
And you've already taught me a couplafew things, for which I am grateful.
CHANGING THE STATUS or DOING A BALANCE ADJUSTMENT:
As mentioned, the check posted 11/17 in Quicken and appears on the current paper statement. If I change the "R" to blank, that just results in a $104 discrepancy. Clicking to clear the original transaction leaves me with the same $52 discrepancy. And I'm no closer to understanding why I was able to reconcile to previous statements.
Yesterday, I entered a "fudge" or "placeholder" transaction, which sounds like it does the same as a balance adjustment. How/where does one do a balance adjustment? I've never clicked "DONE" with a discrepancy evident. I just go enter a fudge transaction or simply cancel until I can figure it all out. Is that why I've never seen an offer to do balance adjustment?
And does the adjustment appear in the register as a transaction so that it is functionally the same as entering my fudge transaction manually? Any particular advantage to doing a balance adjustment?
MARK MEMORIZED PAYEE AS CLEARED:
In the Edit Memorized Payee dialog, "mark as cleared" means mark it as cleared when I manually ENTER the transaction? Otherwise, it is only marked as cleared if it is downloaded and matched?
This WAS a memorized payee but it was not the usual amount & splits. And I've still got the fact that there is no other $52 transaction OR SPLIT with $52 that COULD HAVE RESULTED in the "R" in that column.
Still, clearing that checkbox definitely sounds like a good idea. I wish there was a way to change them all easily, but I'll work on it.
LAST DITCH EFFORT:
I just went over to citibank.com and searched for ANY $52 transaction of any kind over the past six months. There is only this check dated 9/6 and posting 11/17.
So it looks like I have $52 less in this account than I thought tho I may never know why. Reconciliation (manual or Quicken) should tell me but I'm stumped. It's possible some other discrepancy will emerge in the future and I'll be slapping palm-to-forehead.
But for now, happy holidays to all, and many thanks again,
Jeanne0 -
It looks like your original comment finally showed up. This can happen if the spam filters push it for being approved by the moderators. And then when they do approve it, it gets posted like this (out of order).
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