Schwab Banking-Checking Reconcile Issues [Edited]

Jack Riashi
Jack Riashi Quicken Windows 2017 Member ✭✭
edited February 22 in Registers & Transactions (Windows)

Has anyone been experiencing issues between the online balance and check register balance in their Schwab checking accounts? A few weeks ago, the online balance and Quicken check register balanced, as they should have. However, when I downloaded transactions a few weeks ago, the two balances were off. That shouldn't happen. It is driving me crazy. I cannot locate the issue. I've looked at all my transactions over the past six months, and they all match.

I can probably fix the issue by adjusting the opening balance of the checking account or restoring the backup from a few weeks ago, but I'm trying to avoid performing them. Any insight is appreciated! Thank you!

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  • Quicken Laura
    Quicken Laura Quicken Windows Subscription Moderator mod

    Hi @Jack Riashi,

    Thank you for sharing this issue with us. I understand how frustrating it can be when an account won’t reconcile, and I’ll be happy to help you troubleshoot.

    You mentioned that neither the online balance nor the Quicken balance is correct, so the first step is to ensure the online balance is accurate. You can compare the balance shown in Quicken against your Schwab account on their website.

    Second, please make sure the opening balance is correct:

    1. Open the account by clicking its name on the account bar.
    2. Find the earliest transaction in the register (sorting by date makes this easier).
    3. In the Deposit field, update the amount if needed and click Save.

    Third, you’re unsure what the correct balance should be, you can restore a backup file to check the balance at a known correct point. Then switch back to your main file and adjust the balance.

    How to alternate between multiple files

    1. Click the File menu.
    2. Look near the bottom of the option list.
    3. Select the data file you want to open.

    Please let me know how it goes!

    Quicken Laura

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  • Jack Riashi
    Jack Riashi Quicken Windows 2017 Member ✭✭

    Hi Laura,

    Thank you for your response. No, the online balance in Quicken matches the balance in my Schwab account. I apologize if my comment was confusing. The discrepancy is between the Quicken balance and the online Schwab balance. I know the balances reconciled a few weeks ago, and I could probably figure it out if I restored the balances back on 2/8, but I was trying to avoid it. If I restore, I have to download more transactions and enter custom transactions for other accounts. In other words, it is a pain in the backside.

  • Quicken Laura
    Quicken Laura Quicken Windows Subscription Moderator mod

    Hi @Jack Riashi,

    I completely understand your concern about potentially losing your newer custom transactions. To help avoid that, I recommend restoring a backup from a date before the issue began, without overwriting your current file. This will allow you to compare the two files side by side and identify any discrepancies (please note that only one file can be opened at a time).

    Before proceeding, please create a new backup of your current file.

    To Restore a Backup:

    1. Go to File > View/Restore Backups....
    2. Browse the Local and Online Backups tabs to find the backup file you want to restore. The Quicken backup file has the extension .QDF-Backup.
    3. Select the file to restore and click Restore Backup.
    4. Next, you will be given the option to overwrite the file you have open or to create a copy of the backup you're restoring.
      • If you Create a copy, you will need to select a location to save the copy to and you will also need to give the copy a unique file name. After naming the file and selecting the location, click Save, then click Yes to open the restored file.

    How to alternate between multiple files

    1. Click the File menu.
    2. Look near the bottom of the option list.
    3. Select the data file you want to open.

    Please let me know how it goes!

    Quicken Laura

    Make sure to sign up for the email digest to see a round up of your top posts.

  • Quicken Laura
    Quicken Laura Quicken Windows Subscription Moderator mod

    Hi @Jack Riashi,

    I just wanted to follow up since I haven’t heard back from you. I’m checking in to see if you still need assistance.

    Quicken Laura

    Make sure to sign up for the email digest to see a round up of your top posts.

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