Reconcile has been off for the past couple months with BofA account

System
System Member admin
edited March 27 in Registers & Transactions (Windows)

This discussion was created from comments split from:

My Bank reconciliation is a mess. Starting balance from last month is off. Items reconciled last mo

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  • Keith Johnson
    Keith Johnson Member ✭✭✭

    My Quicken reconciliations have been off for the last couple of months. Prior to that time, they were always accurate. Now, even daily reconciliations are not consistent. Something is seriously wrong here. I have neither the time nor the energy to go back over all my steps to try and find an error that worked yesterday but does not work today.

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    Hello @Keith Johnson,

    Thank you for reaching out! To help troubleshoot, please provide more information:

    1. Is this happening in one account or multiple accounts?
    2. Which financial institution is the problem account connected to?
    3. What have you been doing to correct the reconciles?
      1. For instance, have you been adding adjustment transactions?
    4. When the reconciliation is incorrect, is there any obvious pattern, such as being off by the amount of a previous adjustment or pending transactions?

    I look forward to your response!

    Quicken Kristina

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  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    Hello @Keith Johnson,

    We haven't heard back from you in a while. Do you still need assistance?

    Check back and let us know! Thank you.

    Quicken Kristina

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

  • Keith Johnson
    Keith Johnson Member ✭✭✭

    I'm still having difficulty with reconciliation. My bank is Bank of America. When Quicken uploads the transactions for reconciliations, there is a discrepancy between the transactions loaded and the statement ending balance. This is because the balance includes transactions in the "processing" category but these processing transactions are not uploaded.

  • Keith Johnson
    Keith Johnson Member ✭✭✭

    This issue has become exceptionally problematic!

  • Keith Johnson
    Keith Johnson Member ✭✭✭

    I have been in a chat with Quicken. There is no solution to the incorrect balance presented on a transaction download with Bank of America. Quicken users with Bank of America should be aware that reconciliation is erroneous. Avoid!

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    Thank you for your replies,

    Based on the additional information you provided, it sounds like you're unable to reconcile successfully because pending transactions are reflected in the balance, even though they haven't yet been downloaded to the account. Is that correct?

    If that is what's happening, then you're encountering a known issue. I recommend bookmarking the Community Alert linked below to be notified of any updates, once available, and to know when the issue is resolved:

    https://community.quicken.com/discussion/7968794/ongoing-12-16-25-bank-of-america-reconcile-balance-includes-pending-transactions

    In the meantime, there are a couple work arounds:

    1. Wait until all pending transactions are posted and have downloaded into your Quicken file, then reconcile the account.
    2. If the account is too active for the above to be a viable option, then choose the Paper statement option instead of Online balance when reconciling the account. That will allow you to fill in the correct balance manually.

    Thank you!

    (Ticket#12082304/CTP-15397)

    Quicken Kristina

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