Quicken Web Connect import not working

Question

My team and I started having issues with importing .QFX files from Huntington Bank - Business. I don't want to have Quicken log in to the bank for me (I've tried that way too). When I try to import the file it does not match any transactions and says they are all "New". I am able to search by the check number and find it in my register but it will not allow me to try to match the items.

I called Quicken Support and was told this is a known issue and there is no ETA for resolution. The gentleman I spoke with also implied that it is a issue with the bank and not the Quicken software itself.

I've tried restoring from a back up file multiple times. I've tried uninstalling and reinstalling Quicken and rolling back Quicken to an earlier version of the program. Nothing seems to fix the issue. I've tried paring down my imported file to a single day to make it as small as possible but that does not seem help. We are having about 900 checks clear a day so manually clearing them individually is not a viable option.

Quicken support told me to just keep trying to import the data but if I try to import the data, delete all the "new" items - Quicken will not allow me to try to import the file again and I'm running in circles restoring from backup.

Any help is appreciated!

sbaird · Answer

Thanks Jacobs - We do not use Quicken for our books, we use it solely as a secondary check that what our check processing program (not Quicken) creates and clears from the bank feed actually matches what was cleared at the bank. I'll try to do more research to try to find a better software solution for this. Thank you!

jacobs · Answer

Just for clarity: you're creating transactions for thousands of checks in Quicken, and then importing data from your bank which you want to auto-match with the check transactions in Quicken, and it's not matching them? If Quicken Support told you the issue was with the files exported by your bank, then there's probably nothing that Quicken experts on this site can suggest to get around such a problem. There are some ongoing problems with Quicken being over-aggressive in identifying what it thinks are duplicate transactions, and I don't think those problems have been resolved yet — so you might want to keep trying every so often in a test file. But once Quicken has downloaded/imported a transaction with a particular ID number from your bank, it will never import that transaction again, so you would either have to roll back to a backup prior to this happening, or manually process the existing transactions and then wait to see if there's a near-term resolution.

– – – – –

That said, I know this isn't what you'd want to hear, but: if you're processing 900 checks a day, then Quicken really isn't the right software for your business. Quicken is designed as personal finance software. And yes, it can be used for small businesses, but the focus is on a small business run by a Quicken user, such as rental housing units or a consulting/service business. For a larger business with multiple users and a high volume of transactions, I feel you are using the wrong tool for the job. Quicken doesn't have full double-entry accounting, doesn't have an audit trail, doesn't prevent past transactions from being edited or deleted, doesn't easily support use by more than one user on more than one computer, etc.

For decades, I ran a non-profit business, one with far fewer than 900 transactions a day, and I wouldn't have considered for a second trying to do the books in Quicken. I've been using Quicken for more than three decades personally, I've used Quicken as treasurer for a small non-profit association, and I've used it to keep the books for my wife's service business, so I understand what Quicken does and doesn't do pretty well. I'd encourage you to look at true business accounting software, whether something like QuickBooks (which people either love or hate) or any of many small business accounting software systems.

Best wishes!

NotACPA · Answer

Yep, it's a known  issue.  Follow this thread for updates as they become  available:

https://community.quicken.com/discussion/7948340/updated-3-19-24-qfx-import-errors-for-qwin-r55-13