Beginning account balance changes
I just spent several days fixing the reconciliation on 2 of my credit card accounts. Frankly it never occured to me that the beginning balance from several years ago could change and throw off the current reconciliation. I found a post that confirmed that this was the case with Bank of America. Very frustrating. I wasted several days work on a problem that shouldn't have happened at all. Terrible customer service. Quicken should prioritize fixing this problem and notifying customers of the possibility so they don't waste their time.
Comments
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ongoing random bug - changing the Opening/Beginning Balance -
As you probably read - we suggest going thru each of your accounts -
and copying the Opening Balance amount into the Memo field of that transaction - for safe keeping -0 -
I have been experiencing the same issue. Here is a walk-through:
- I had an opening balance for a new account of $5000 after making a $5000 deposit on 7/31/2023
- My desktop app shows everything correctly over the intervening 11 months. The current balance matches what my bank shows and the opening balance always remains correctly at $5000.
- In the web app, if a new transaction comes in, and I have not used the desktop app for a few days, the transaction shows correctly but the opening balance alters itself. For example, if a transaction is for $50, the opening balance is no longer $5000 but has now "magically" adjusted itself to (incorrectly) be $5050 instead of remaining at $5000. Both my current balance and opening balance are thus incorrect on the web.
- This does not happen in the desktop app. When I log in and download transactions to the desktop app, everything remains correct (as it always has); the web app is the problem. It is not just an issue of getting "out of sync" with the desktop app - it is an issue of literally altering the opening balance (which is a reconciled transaction from nearly a year ago).
Please advise if others are seeing similar behavior and if any solution has been found. I note that this is a "known" issue, but known only to the community - or also to Quicken developers/sustainers?
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@steve88@ the known problem is with the Desktop app changing the opening balance, so your problem is different.
Note that this the first I have heard of your problem, but none of the SuperUsers use the mobile/web apps except for testing, because they don't trust them. So, the people that do use them daily like you would most likely know more about problems like this.
Signature:
This is my website: http://www.quicknperlwiz.com/0 -
Yes, the Opening Balance changes most often when you have to reactivate your account register.
Yes, IMHO it's a bug and it's about time that the programmers learned to stay away from the Opening Balance transaction (except when creating a new account register on the fly from a download when there is/was no Opening Balance transaction present in the register or the download)
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I am seeing the same issue. Quicken on the web is adjusting my opening balance from one year ago.
Here is the behavior:
- The opening balance on this checking account was $5000. It occurred on 7/31/2023.
- I use the desktop app every 3-4 weeks but use the web app almost daily
- The desktop app always works correctly and shows the correct opening deposit of $5000 as a reconciled transaction, and the correct opening balance is thus $5000, too.
- When I synchronize the desktop, the web reflects everything correctly. I close the desktop app and don't touch it for a few days or weeks.
- I log in to the web version and see new transactions that I can accept, add notes, etc. However, the current balance is no longer correct.
- Let's say that the balance on the desktop app was $9500 and after synchronizing, it is the same on the web app. The opening balance shows $5000 as it should.
- A new transaction arrives - let's say a check was written for $50.00 - and I see this on the web app. The current balance remains (incorrectly) at $9500 (it should be $9450) and upon inspection, I see that the opening balance on 7/31/2023 is no longer $5000. It is now $5050.
Why is quicken on the web auto-adjusting this opening balance?
Why does this only happen on the web - not on the desktop?
Is anyone else observing similar behavior as I have described?
This has literally robbed dozens of hours from me over the last few months when I cannot get things to reconcile. I am about to the point where I am either going to stop using quicken altogether, or at least stop using the web app (as convenient as it is - bad data trumps convenience).
Any guidance or at least confirmation would be greatly appreciated.
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