[ggcsquicksig] Re: Beginning Balance changed from last Reconcile
- From: Will Kaefer & Mary Hearn <willmary@xxxxxxxxxxx>
- To: ggcsquicksig@xxxxxxxxxxxxx
- Date: Sat, 4 Jun 2011 19:00:56 -0700 (PDT)
When reconciling, by default Q puts in the current date. It is very important
to put in the "closing date" of your paper statement. Overlooking that can
really mess things up. Also when you do the reconcilation, and you balance it
out to 0 you must accept the results by clicking "finish". Will
--- On Sat, 6/4/11, Babette <ggcsquicksig@xxxxxxxxxxx> wrote:
From: Babette <ggcsquicksig@xxxxxxxxxxx>
Subject: [ggcsquicksig] Beginning Balance changed from last Reconcile
To: "SIGLIST" <ggcsquicksig@xxxxxxxxxxxxx>
Date: Saturday, June 4, 2011, 2:58 PM
Chris GralappChris Gralapp (using Q 20100) sent me an off-list message about a
problem that I've encountered along the way, also. You complete a
reconciliation to a paper statement, the ending balance works fine with cleared
transactions, but when you go to reconcile the next statement, the Opening
Balance shown is not the same as the previous closing balance.
Following are our exchanges. Have any of you had this happen? If so, how did
you handle it?
Babette
Chris wrote:
----- Original Message -----
From: Chris Gralapp
To: Babette
Sent: Saturday, June 04, 2011 10:10 AM
Subject: Beginning balance Q
Hi Babette,
This odd thing happens to me eoccasionally in Quicken (2010), when I reconcile :
The previous month's numbers ran fine, and the account balanced to $0.00.
The ending balance on my bank statement was $1000. This amount should
automatically become the beginning balance for the next statement, yes?
But this month, after I have accepted my income and expenses, and go to
reconcile, Quicken tells me that my beginning balance is $2049, not the $1000
that penciled out last month, and which is on my paper statement.
How can this number change? Why would Quicken claim a different beginning
balance than the Bank (B of A)? I wonder if it is my error (likely!) or
Quicken's? Or the Bank's?
Thanks,
Chris
I replied:
Chris...which version of Q are you using now? 2011 or earlier?
Are the dates correct on the start and end dates for the new statement?
Is the figure that comes up as the starting balance the same of an earlier
statement than the one before the current one you want to reconcile? (It's
possible that the last reconciliation got wiped out or lost or something. Are
all the "R"s showing on the transactions for the last reconcilication?)
You can manualaly correct the starting balance when you begin the reconcile.
Stephen Nelson, author of the Quicken for Dummies books(who has been writing
Quicken books since DOS days, and despite my general distaste for Dummies
books, is probably the best author around), says:
"VERIFY THE OPENING BLANANCE: Quicken displays a figure in the Opening Balance
text bos. If this figure isn't correct, replace it with the correct figure.
To do so, move the cursor to the text box and type over the given figure).
I've had this happen, too. And frankly, I've never quite figured out why it
happens.
However, sometimes I can fix it by unreconciling the last statement (this is a
real drag...you have to get out your statement, and go to each transaction on
it and manually click on the "R" column and take it back to a blank or "c" for
clear.) Then do the reconcile over again, and then it works OK on the next
statement.
Or call the really excellent Inner Circirle Priority tech support number
(877-682-4254) and ask them about it. They are in U.S. and are high level tech
support people. I', not sure whether you really have to register for Inner
Circle (it's free) and they check, but it's so eacy to do so that it's worth
doing. The User forums on Inner Circle are also much better than the "Quicken
Community" at Intuit's general Support web site. I checked them before sending
this reply, but there's nothing I can find about this problem.
If you do call, let me know what they tell you. I'd like to have the
information for my own data files.
Also, can we share this with the Quicken SIG list? I think it would be
interesting to all.
Babette
AND CHRIS THEN REPLIED:
Hi Babette,
yes, of course you may share this! I was expecting that might happen, so I
gave hypothetical numbers. I have verified all of the items you suggested.
-The dates are right
-All my Rs are showing for the previous month's reconciliation, and that one
had balanced at the time...!
-I tried manually correcting the incorrect opening balance, and I got the
same result--$1049 too much.
-I am afraid to unreconcile--I know I would really goof something up!
So, I just did a balance adjustment (I know, I know--it is a whopper, and very
sloppy to do it this way, but I was out of time, and I am not math whiz).
But it has happened before, that my closing and opening balances don't jibe,
and I just don't get how that can happen--it's like some voodoo at the bank.
Makes me somewhat distrustful. Oh, BTW, I am using the Quicken 2010 Home and
Business edition.
Thanks!
Chris
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