Quicken Amounts are hundreds to thousands off actual banks totals. Why???

Dick Latour
Dick Latour Quicken Windows Subscription Member ✭✭
edited October 18 in Errors and Troubleshooting (Windows)

Quicken Classic Deluxe has been running fine for me for years. I picked upthe subscription version when it started. Recently, My Quicken program has started giving me totals in my checking, savings and credit card accounts that are hundreds to several thousands off from what the actual amounts are in many of my accounts. I tried deactivating, resetting and nothing seems to work. I even copied a 2 week old backup of my account because I believe the accounts were still okay. Any suggestions?

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    When was the last time that you reconciled each of these accounts?

    Have you compared a prior (reconciled) statement to the current account balance?

    It's possible, if your changed download methods (say from Direct Connect to Express Web Connect+) that your Opening Balance in the accounts might have been changed … check that also. Because of this bug, which Q hasn't been able to isolate, it's recommended that you put the CORRECT opening balance for each banking/card type account in the Memo field of the "OPENING BALANCE" transaction of the account … so that if this happens again it's easy to spot and remedy.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Dick Latour
    Dick Latour Quicken Windows Subscription Member ✭✭
    https://community.quicken.com/discussion/comment/20509356#Comment_20509356

    I do a One Step Update and then reconcile just about every day. And I stick to Web Connect.

  • Bob@45
    Bob@45 Member ✭✭✭✭

    Recently, My Quicken program has started giving me totals in my checking, savings and credit card accounts that are hundreds to several thousands off from what the actual amounts are in many of my accounts.

    Dick, recently I had a large number of bogus account failures, apparently caused by an issue with Quicken's interface to the banks, which required me to reauthorize with well over a dozen banks. Several of them updated the Opening Balance with bogus numbers, as frequently happens.

    You don't indicate in your response above whether you checked their opening balances. That is often the cause of balances being off by hundreds or thousands of dollars.

    Bob

  • wildnut
    wildnut Member ✭✭

    See if it's anything related to the Bill and Income Reminders. Check out this post:

    https://community.quicken.com/discussion/7965586/bills-income-reminders-issues-after-r64-23-update-past-due-duplicates-etc#latest

This discussion has been closed.

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